Lee Si-wook, KIEP President, Nominated as New Standing Vice Chairman of Korea Chamber of Commerce and Industry

Lee Si-wook, president of the Korea Institute for International Economic Policy (KIEP), has been nominated as the new standing vice chairman of the Korea Chamber of Commerce and Industry (KCCI). This appointment follows a five-month vacancy in the crucial role, which arose after a public relations mishap concerning inheritance tax.

Lee, 59, successfully passed the employment review by the Government Public Officials Ethics Committee. He is anticipated to be officially confirmed as the standing vice chairman through an extraordinary general meeting of the KCCI soon. Lee holds a degree in economics from Yonsei University and advanced degrees from Paris Dauphine University and the University of Michigan. His career includes significant research roles at the Korea Development Institute (KDI) and leadership positions in international trade associations, including the presidency of the Korea Association of International Trade (KATIS) and KIEP.

The KCCI faced difficulties earlier this year after issuing a press release in February suggesting the need for inheritance tax reform. This statement drew criticism from President Lee Jae-myung for factual inaccuracies, leading to the resignation of the then-standing vice chairman, Park Il-joon, on March 20. An earlier attempt to fill the position in June with Yoo Jeong-yeol, former president of KOTRA, failed when he did not pass the employment review.

There has been growing internal pressure within the KCCI to fill the vacancy quickly to minimize disruption. The standing vice chairman plays a vital role in assisting the KCCI chairman, overseeing the organization's operations, and representing it externally. Concerns have been raised that the prolonged absence of a leader has weakened the KCCI's ability to relay feedback from regional chambers of commerce to the government. With Chairman Choi Tae-won's term ending in March, the swift appointment of a new vice chairman is seen as essential for a smooth transition to the next leadership.