Sohn Kyung-shik, head of the Korea Enterprises Federation (KEF), won a fifth consecutive term.
KEF on the 24th held its 57th regular general meeting at the Westin Josun Hotel in Seoul and, with unanimous approval from the executive board and member companies, reappointed Sohn as KEF chairman. First appointed in Mar. 2018, this is Sohn's fifth term, and he will lead KEF for two more years through 2028.
KEF's executive board said Sohn, during eight years as chairman, played a pivotal role on major labor and economic issues, and in the process made significant contributions to improving the business environment and elevating KEF's policy stature.
A KEF official noted, "With the revised Trade Union and Labor Relations Adjustment Act set to take effect and volatility in the policy environment likely to increase due to responses to key labor issues, the background for reappointing Chairman Sohn is that his extensive experience and leadership are even more essential."
In opening remarks the same day, Sohn said, "The government's push on state affairs tasks is entering full swing, and there is a strong possibility that policy discussions that burden corporations will expand," adding, "To overcome the low-growth crisis stuck at 1% growth, we will further strengthen cooperation across the broader business community."
After the meeting, Sohn told reporters, "The biggest issue is that the revised Trade Union and Labor Relations Adjustment Act takes effect next month," adding, "We are running simulations on what problems could arise and how to respond, and discussing them with the Ministry of Employment and Labor (MOEL), but there are many ambiguities, which has been difficult."
He added, "As the representative organization of the business community, we will fulfill our responsibility so that the voices of corporations are reflected in policy in a balanced way," and said, "We will focus on faithfully conveying corporations' views to the government and the National Assembly and supporting member companies' reasonable collective bargaining."
On discussions about extending the retirement age, he said KEF would seek solutions that harmonize with youth employment through flexible approaches such as "re-employment after retirement."
At the meeting, Lee Dong-geun, KEF's standing vice chairman, 22 part-time vice chairmen, and two auditors were reappointed on the chairman's recommendation. Geum Seok-ho, president of HD Hyundai Heavy Industries, was newly appointed as a part-time vice chairman, and Jin Yong-min, CEO of Seoul City Gas, was newly appointed as an auditor.