Kim Ki-moon, chairman of the Korea Federation of Small and Medium Enterprises, made it official that he will not run in the next chairman election.
On the 24th, Kim said in a statement, "I no longer intend to run for the KBIZ chairmanship."
Regarding the amendment to the Small and Medium Enterprise Cooperatives Act proposed at the end of last year, Kim explained, "I had not announced a separate position out of respect for the views of some members and cooperative chairpersons, but controversy continued as discussions on the amendment became tied to whether I would seek another term."
Kim emphasized, "As for the KBIZ chair's term, I hope the current system will be maintained," adding, "I make it clear that I will conclude my tenure as chairman at the end of this term."
Under current law, the KBIZ chair's term is four years, with one consecutive term allowed. The amendment would delete the restriction on the number of consecutive terms.
Kim served as the 23rd and 24th KBIZ chair from 2007 to 2015 and has held the 26th and 27th chairmanships from 2019 to the present. The current 27th term runs through Feb. 2027.
Kim said, "During the remaining term, I will do my best for small and medium-sized enterprises and small business owners amid difficult external conditions such as the Middle East war." He continued, "I apologize for the delay in announcing an official position on the amendment," and added, "I will do my utmost until the end so that the next KBIZ chair is elected fairly and transparently and unity in the SME community can be achieved."