Lawmaker Gives Up Business Sector Role

Park Sang-hee, President of the Korea Federation of Small and Medium Business (KFSMB) and a member of the Millennium Democratic Party, announced Tuesday that he will resign his position at the KFSMB, a non-profit organization which protects the interests of small and medium sized companies.

His resignation will be presented to the board of KFSMB on September 8.

In a statement accompanying his decision, Park said that, "I willingly accepted the public's rejection of my involvement in the business sector as a political party member."

Park will also switch positions from the National Policy Committee to another standing committee.

As for the reason for his transfer, he explained that he feels it is not right for him to take part in the role of watchdog, which he would if he were to remain a member of the National Policy Committee, when three affiliates of the Miju Group, which he has shares in, are in workout.

by Ko Yun-hee