April 26, 2024

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[THE INVESTOR] GS Group Chairman Huh Chang-soo, head of the Federation of Korean Industries, said on Dec.6 that “it is difficult for the corporate sector to refuse government demands,” more or less admitting the federation’s role in funding organizations run by President Park Geun-hye’s former confidante Choi Soon-sil.

Addressing the mounting criticism toward the federation, which represents the nation’s largest conglomerates, Huh said at a parliamentary hearing on this day that while FKI would work hard to install preventive measures, it was difficult to say if the federation should be dismantled.

 

Ahn Hoon/The Investor

“It’s not a decision I can make on my own,” said Huh, who is also head of GS Group.

FKI is suspected of having led the fundraising efforts for Mir and K-Sports foundations, both owned by Choi, who is under fire for inappropriately peddling influence on the president and government policies.

Meanwhile, Samsung Electronics Vice Chairman Lee Jay-yong said during the hearing that he would stop paying dues to the organization when asked how he fell short of saying the FKI should dissolve, replying to questions that he would stop paying dues and halt all donations to the organization that was created by his grandfather Lee Byung-chull.

By Kim Ji-hyun (jemmie@heraldcorp.com)