Samsung Group is expected to rejoin the Federation of Korean Industries (FKI) next Tuesday as its compliance committee recommended five affiliates to become members of the business lobby group once again. But the affiliates have been instructed to immediately withdraw from the federation if it colludes with political circles, according to the committee, Friday.
An independent compliance committee responsible for oversight of South Korea's largest conglomerate, Samsung, gave a partial go-ahead for the group’s reentry to the Federation of Korean Industries, the country’s largest business interest group. Samsung withdrew from the FKI in 2017, after a high-profile corruption scandal involving Samsung Chairman Lee Jae-yong and the ousted former President Park Ge.
An independent corporate compliance oversight committee of Samsung Group recommended on Friday that the company rejoin a business interest group that it withdrew from years ago amid a high-profile corruption scandal involving its de facto .
Compliance committee recommends Samsung rejoin FKI with strings attached – The Korea Times koreatimesus.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimesus.com Daily Mail and Mail on Sunday newspapers.
Korea s four largest business groups, which left the Federation of Korean Industries (FKI) in 2016 due to its connection in a bribery scandal involving impeached former President Park Geun-hye, are about to rejoin the business lobby which will come under the leadership of a new chairman after the general meeting on Aug. 22, according to industry officials, Tuesday.