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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...

The growing importance of business relations with foreign nations is inducing Korea's business lobby groups to give key posts to former diplomats, instead of businesspeople or former officials of the finance and industry ministries, according to industry officials, Thursday.

The Federation of Korean Industries (FKI) is poised to make a new start, having chosen Poongsan Corp. Chairman Ryu Jin as its new leader. Ryu will be officially tapped as the new leader during an extraordinary general meeting slated for Aug. 22. Announced in May as part of a reform package, the Korea Economic Research Institute (KERI), an FKI affiliate, will be merged into the nation's largest business lobby.

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.

Poongsan Chairman Ryu Jin has been tapped as the new head of The Federation of Korean Industries (FKI), one of the nation's major business lobbies said, Monday.