Chairman Cho Makes Misleading Remark during Jeju Lecture

As the controversy of the “remark at a Jeju lecture” by Cho Seok-rai, chairman of the Federation of Korean Industries (FKI), is causing a stir, the federation is busy quelling it.

The FKI said in its clarification statement released on July 26 that, “It is very regrettable that some expressions of Chairman Cho during his lecture aroused misunderstanding to support a certain presidential candidate.”

It added, “We officially announce that in this lecture, he talked about what the next leader should be like in a future-oriented way and that there was no other intention.”

The FKI sent the statement to presidential candidates, even posting Cho’s whole lecture on its website.

At the “2007 Jeju Summer Forum” organized by the FKI, Chairman Cho made some remarks at the Shilla Hotel in Jeju on July 25, including, “The next president of Korea should have economic prowess,” and “There is no answer to tracing back to the past.” They left an enigmatic stir as his younger brother, Cho Yang-rai, is a relative of former Seoul mayor Lee Myung-bak.

However, despite the FKI’s active explanation, the political sector is still reviewing a possible prosecution.

Jang Yeong-dal, floor leader of the Uri Party, pressured Mr. Cho, saying, “It would be desirable for Cho to resign immediately for the prestige of all those involved in the economy, being responsible for unnecessary political remarks.”

The Uri Party is even considering prosecution as Cho’s remark possibly violated the election law.

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