By Oh Young-jin
Assistant managing editor
Few would thank Samsung Electronics Chairman Lee Kun-hee if he were to take the job as chairman of the Federation of Korean Industries (FKI), the big business lobby.
His new role at the FKI would not add to his wealth nor give him any further global recognition. Rather, it would put him in the spotlight even more, something he would prefer to avoid, judging by his low-profile personality.
It would also force him to divert his time and energy away from running the nation’s biggest export machine, causing him more frequent bureaucratic headaches.
Still, he should take the job.
Here are some of the reasons why.
First and foremost, Korea needs a business leader who will play host to the G20 CEO summit. This summit serves as one of the precursors to the summit of heads of state slated for Nov. 11 and 12 in Seoul but its importance can’t be overestimated.
Not only will global business leaders attend, but their impressions will greatly influence their opinion of Korea as a business model. The likelihood is that if they like what they see, they will invest more in Korea, and vice versa.
Thus, there is no better candidate than Lee as the acting host of this business summit. To be the host, he needs to be the FKI chairman.
Needless to say, Lee’s Samsung enterprise is the world’s leading tech company, enabling him to rub shoulders with other global business leaders on an equal footing. Korea needs somebody to speak the “same language” as global business leaders and from a position of strength during the summit.
It is understandable that Lee should have some reservations.
After all, being the chairman of the FKI is not the coveted job it used to be.
During the age of “development dictatorships” led by former generals up until the 1980s, the FKI served as a conduit by which chaebol appealed en masse to the government.
Thus, becoming its leader could help foster his business by directly currying favors with those in power.
But since then, the conglomerates have grown bigger and more independent, getting away from government control in the big devolution of business from political power.
Big corporate leaders have lost interest in the job, being content to run their companies in a way they see fit. In the process, leaders of smaller businesses have been given the task of leading the organization.
So Lee may feel the job is beneath him.
However, he can rest assure that he will restore the importance of the job, not in the old collusive way but in a sense that businesses and political power can promote national interest as equal partners.
Lee may shun the job, being disillusioned by his brush with the law. He could argue that the terms of the presidential pardon he received don’t require him to serve as the CEO summit host.
It is true that the pardon was given in return for his promise to promote a third bid by PyeongChang, Gangwon Province, for the Winter Olympics, not for the G20 meetings.
But I bet Lee knows better.
As leader of a business the size of Samsung, it goes without saying his obligations far exceed the legal terms included in his pardon.
As a matter of fact, he showed his sense of responsibility during his 2007 pitch for PyeongChang’s Olympic bid in Guatemala City.
As a member of the Korean bid committee, he took the podium and made his personal appeal to the IOC, obviously overcoming his stage fright.
I believe that Lee still has that sense of responsibility and should show it for the G20 summits of CEOs and political leaders.
Of course, the political trappings attached to the events may make him cautious, since it is widely believed that the summit is President Lee Myung-bak’s show, aimed at highlighting his economic achievements. Samsung’s Lee may as well stay safely on the sidelines without raising the ire of those in power by stealing the limelight.
If that is the risk, the Samsung leader should take it.
It is also quite possible for him to suffer public scrutiny and take the flak, if he takes the job. It would not be the first time that he has faced the public wrath and probably won’t be the last. It can be of some consolation to remind him of the two faces of the public ― one disliking him but the other respecting him for his business acumen.
In the long haul, the success of these G20 events won’t belong to one regime or one leader but to the entire country.
These events will likely be remembered as one of the most important accomplishments of our country on its way to becoming a global leader.
The summits will be the intellectual counterparts of the World Cup or the Olympics, being devoid of the raw excitement typical of those sporting events but full of debate that will still determine the future narrative of the global village.
Simply put, the success of the G20 summit is pivotal to the maturity of Korea as a nation. This cause should spare the Samsung leader from mundane concerns, giving him a reason to give his all to make the meetings successful. I hope that Lee will not pass up this historic calling.