FKI, the Federation of Korean Industries, founded in 1961 as a non-profit independent organization which consists of Korea's major conglomerates and associated members. The main objectives of the organization are to help promote sound economic policies, and to internationalize the economy to further enhance the free market economic system and the development of the nation.
In order to establish the objectives listed above, various domestic economic issues are addressed and analyzed, and extensive research is being done in order to find effective solutions.
FKI addresses the government on major economic issues and policies, helps promote cooperation with major international and foreign economic organizations, disseminate free market principles and assists corporations in promoting corporate community relations.
FKI, along with other organizations such as the Korea Chamber of Commerce and Industry, the Korea International Trade Association, and the Korean Federation of Small Business, form the four most prestigious economic organizations in Korea. For a company to be a member of FKI, its annual sales should be 50 billion won or more. FKI has association members, which represent all industrial sectors. Whereas the first three organizations are formed under a special law, FKI was established by private businessmen on a voluntary basis, so it is uniquely taking the form of a totally private economic organization.
As of year 2013, FKI has 470 members. From the total number of members, 400 are companies including GS Corporation, Samsung Electronics,Kumho Industrial, Korean Airlines, Hanwha Corporation, Hyundai Motor, Daelim Industrial, LG, POSCO, Doosan Construction and 21 foreign-invested companies, and 65 are organizations.