KITA chairman steps down

The Korea Times

The Korea Times

Finance

Sat, September 23, 2023 | 13:02

Economy

KITA chairman steps down

Posted : 2017-10-24 17:34

Updated : 2017-10-24 17:38

KITA Chairman Kim In-hoo

By Lee Hyo-sik

Korea International Trade Association (KITA) Chairman Kim In-hoo has tendered his resignation, four months before his three-year term expires.

The export promotion body said Tuesday Kim attended the board of directors meeting earlier in the day and submitted a letter of resignation.

"Even though I still have several more months to go before my term in office expires next February, I decided to step down now for the organization," the chairman said. "I believe my resignation will help KITA perform its duties (under the new administration)."

Kim, 75, who was appointed KITA chairman in March 2015 under the then-Park Geun-hye administration, is an advocate of market economy and pro-business principles.

He has been said to be at odds with economic policymakers of the Moon Jae-in administration, which has introduced an array of labor-friendly policies and placed a heavier burden on businesses.

While serving as KITA chairman, Kim has been expanding the boundaries of the organization's businesses. Among others, he tried to nurture COEX, Korea's largest convention center, into a global leader in the meetings, incentives, conventions and exhibitions (MICE) industry.

Kim started his career at the Economic Planning Board, the predecessor of the current Ministry of Strategy and Finance, in 1967 and later served in major policymaking posts.

When Korea was hit by the Asian financial crisis in 1997, Kim was a senior presidential secretary for economic affairs under President Kim Young-sam.

Born in Miryang, North Gyeongsang Province, he received a bachelor's degree in law from Seoul National University.

leehs@ktimes.com