The Commission on Shared Growth for Large and Small Companies said Tuesday that Yoo Jang-hee, professor emeritus at Ewha Womans University, would be its new chairman.

“We have agreed to name Yoo as the next chairman after consultations with business organizations and related institutions,” the panel said.

The Federation of Korean Industries and the Korea Chamber of Commerce and Industry welcomed the nomination.

Yoo will officially begin work late this month to bridge the gap between large and small companies. His predecessor Chung Un-chan quit the job in late March.

Yoo served as an adviser to the Korea Federation of Small and Medium Businesses between 2009 and 2010, and headed POSCO’s board of directors until recently.

Among the many titles he assumed were head of the Korea-America Economic Association, the Korea Institute for International Economic Policy, the Korean Economic Association and vice president of Ewha Womans University.

He also supplied economic advice for President Lee Myung-bak’s election campaign and worked as vice chairman of the National Economic Advisory Council under the Lee administration.

He is now chairman of free interpreting service provider BBB Korea and director of the foundation funded with President Lee’s donations.

Yoo earned his doctorate in economics from Texas A&M University after graduating from Seoul National University.

By Kim So-hyun (sophie@heraldcorp.com)