Tong Yang Group chief named head of Korea-U.S. Business Council

SEOUL, Nov. 30 (Yonhap) -- Hyun Jae-hyun, chairman of South Korean business
conglomerate Tong Yang Group, has been named as the Korean president of the
Korea-U.S. Business Council, its Korean organizer said Monday.

Hyun, a 60-year-old prosecutor-turned-businessman, will replace Cho Suck-rai,
chairman of the Federation of Korean Industries, the federation said in a
statement.
The federation is the Korean organizer of the business council between South
Korea and the U.S.
Hyun has served as the honorable chairman of the CEO Summit of the Asia-Pacific
Economic Cooperation forum and other similar posts, according to the federation.
Established in 1988, the Korea-U.S. Business Council played an important role in
South Korea and the U.S. launching free trade talks.
South Korea and the U.S. signed a free trade agreement in 2007, but the deal
still awaits ratification in the legislatures of both countries.
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