Former Korea Trade-Investment Promotion Agency (KOTRA) President Yoo Jeong-yeol has withdrawn from consideration for the position of full-time vice president of the Korea Chamber of Commerce and Industry (KCCI) after failing a government employment screening.
According to KCCI and industry sources, the Government Ethics Committee for Public Officials rejected Yoo’s appointment during a post-retirement employment review held on June 26.
The decision has further extended the vacancy in the KCCI’s full-time vice president position, which has remained unfilled since late March.
Yoo, 60, holds a doctorate in aerospace engineering from Seoul National University and previously served in several senior government roles, including head of the Industrial Policy Bureau at the Ministry of Trade, Industry and Energy, presidential secretary for industry and trade under the Moon Jae-in administration, and president of KOTRA.
Industry observers believe the rejection was linked to stricter ethics rules introduced this year to prevent repeated appointments of former officials from the same government ministry to leadership positions in related organisations. The KCCI’s last three full-time vice presidents all previously served at the Ministry of Trade, Industry and Energy.
The vice president position became vacant earlier this year following controversy over a KCCI report on inheritance tax. The report claimed that high inheritance taxes could accelerate the migration of wealthy South Koreans, citing data from a British consultancy.
President Lee Jae Myung criticised the report as misleading, prompting an audit by the Ministry of Trade, Industry and Energy.The investigation resulted in the dismissal of two KCCI executives, while former Vice President Park Il-jun resigned, accepting moral responsibility for the incident.
KCCI said it will consult with its board to appoint a new full-time vice president as soon as possible.
