FKI Head to Give Presentation Before President

Federation of Korean Industries (FKI) Chairman Cho Seok-rae will give a power-point presentation for President Lee Myung-bak and leading business figures Monday regarding how to invigorate investment and create jobs.

It is the first time for the head of the nation’s big business lobby group to make a presentation before the president since its foundation in 1961.

According to officials of the FKI, Chairman Cho will give a ten-minute presentation on behalf of the business sector at a joint meeting of public and private sectors for investment promotion and job creation on Monday where President Lee and leading businessmen are to be on hand.

“Until now, former Vice Chairman of the FKI Sohn Byung-doo, now president of Sogang University, is the only one who has given a presentation before the president,” said an FKI official.

Former Vice Chairman Sohn gave an explanation to former President Kim Dae-jung in 2001 at a meeting for enhancing national competitiveness held at the Gwacheon Government Complex. At the time, he unsuccessfully proposed to set up a joint committee by private and public sectors aimed at boosting national competitiveness.

FKI officials said Chairman Cho’s unprecedented move was influenced by the new administration’s pragmatism, which was manifested by President Lee’s presentation before investors at the “Korea Invest Forum” held in New York City on April 16.

Separately, a joint meeting at the presidential office on Monday will be attended by some 20 key business leaders including Hyundai-Kia Automotive Group Chairman Chung Mong-koo, LG Group Chairman Koo Bon-moo and SK Group Chairman Chey Tae-won. Samsung Group will be represented by Samsung Life Insurance Chairman Lee Soo-bin who replaced the group’s Chairman Lee Kun-hee after his resignation.

abc@donga.com