Kang refuses 2nd term as chairman of federation

Kang Shin-ho will not return as chairman of the Federation of Korean Industries, the nation’s largest business advocate announced yesterday.
Vice chairman Cho Kun-ho said federation executives agreed to reappoint Mr. Kang on Jan. 25, but he decided not to serve a second term “for various reasons.”
Without a chairman, the federation will postpone its general assembly, where Mr. Kang would have been reappointed, by about two weeks. The business lobby will form a committee to recommend new candidates for chairman. Mr. Cho said the committee will be comprised of three or four executives and another three or four senior advisors. He would not discuss who the potential candidates would be because “it’s the committee’s jurisdiction.”
The vice chairman said he expects Mr. Kang to remain active in his current role until the next general assembly, and to accompany President Roh Moo-hyun on visits to Spain and Italy.
Mr. Kang had been involved in a public family feud with his son, Kang Moon-seok, over management control at Dong-A Pharmaceutical Co., where the senior Kang is chairman. Last Friday, Kim Jun-ki, a vice chairman of the federation, abruptly resigned his post, citing “disappointment” over not seeing any changes at the lobby.
Heads of major conglomerates such as Samsung, LG and SK have not yet expressed interest in the chairmanship.

By Yoo Jee-ho Staff Writer [jeeho@joongang.co.kr]