FKI’s ex-vice chairman comes under criticism

Federation of Korean Industries (FKI) former Vice Chairman Lee Seung-cheol is facing fresh criticism for his “shameless deeds.”

Last year, Lee was under fire for his role in twisting the arms of the nation’s conglomerates to fund the Mir and K-Sports foundations under the direction of former senior presidential secretary An Chong-beom.

The foundations were controlled by Choi Soon-sil, a jailed confidant of former President Park Geun-hye, whose impeachment for the coercive fundraising and other issues was upheld last week.

In the wake of the corruption scandal, there have been growing calls to break up the FKI, and the nation’s top four chaebol — Samsung, SK, Hyundai Motor and LG — have quit the lobby group, leaving the five-decade-old organization at a crossroads and its survival in jeopardy.

According to the Seoul-based business lobby, Friday, Lee, who ended his 18-year tenure at the FKI last month, has demanded a position as a full-time adviser as well as a big bonus for his services. He is already supposed to pocket 2 billion won ($1.7 million) in severance pay.

The two-year advisory job comes with an office at FKI headquarters, a private secretary and a chauffeur-driven car, plus a salary amounting to 80 percent of the money he received during his term.

In addition, a full-time executive who contributes to the organization can receive an additional incentive of up to 50 percent of severance pay — or 1 billion won for Lee — according to its regulations.

Lee is also known to have asked the FKI to cover all his legal fees regarding the Choi scandal.

Already, there are growing voices against Lee enjoying such benefits.

“I am upset to see Lee making such unreasonable demands despite his wrongdoings rather than being content with his large amount of money from severance pay,” said floor leader Woo Sang-ho of the Democratic Party of Korea.

“The FKI should not be an organization just creating a job for Lee; rather, it should be disbanded.”

In response, the FKI said it would neither back Lee for the post nor give him any further bonuses.

“In addition, the FKI will not pay legal fees for Lee anymore,” it said.

Early in the political scandal, Lee held several press conferences and said the FKI voluntarily led the move to establish the two foundations.

However, he later switched his position during a prosecution investigation, saying that Cheong Wa Dae had pressured the FKI to coerce conglomerates to “donate” money to the two dubious foundations.

“Even after going through the unprecedented corruption scandal, there still seems to be such complacency inside the FKI,” said an official of a Seoul-based conglomerate.

“It is questionable if it is ready to reform itself.”