Kim Kak-choong, honorary chairman of textile manufacturer Kyungbang Co., died of illness at age 87 on Saturday, hospital officials said Monday.

Kim has long been considered a pioneer in the nation’s textile industry, having played a great role in developing it, industry watchers said. He had led the leading textile company from 1975.

He was the chairman at the Federation of Korean Industries from 1999-2003, and became an honorary chairman of the nation’s largest lobbying group after his term expired.

“He helped Korea’s textile industry flourish,” said an FKI official, adding, “it is heartbreaking to know that this great figure has passed away.”

His father, Kim Yong-wan, who passed away in 1996, was also FKI chairman from the mid 1960s to the 1970s. It is the first time in the Korean business circle that father and son have chaired the FKI.

Kim is survived by his wife, two sons and one daughter. Funeral services will be held at Asan Medical Center on Thursday.

By Kim Young-won (wone0102@heraldcorp.com)