Cho Likely to Become Next FKI Chairman

Prior to the special plenary session to be held tomorrow, the Federation of Korean Industries (FKI) is planning to hold a meeting of its board of chairmen today to select either Cho Seok-rae, chairman of Hyosung Group, or Hyun Jae-hyun, chairman of Tong Yang Group, as its candidate for next chairman. It is highly likely that Cho will be appointed as the head of the FKI as long as there is no sudden change of situation at the last moment.

The business community said yesterday that the FKI would hold the meeting in Seoul today to coordinate their opinions to decide the next chairman.

A senior member of the FKI said, “Cho has won the broadest support from the board of chairmen,” adding, “the opposition to Cho has almost subsided as well.”

higgledy@donga.com