[THE INVESTOR] Criticism against the Federation of Korean Industries is growing, with the opposition parties going as far as to call for it to be disbanded.

The increasing criticism come in the wake of allegations that the lobby group of conglomerates has been involved in politically motivated activities. It has been accused of supporting a right-wing civic group. The FKI has also been implicated in irregularities in raising funds for two nonprofit foundations under pressure from Cheong Wa Dae. 



Following the allegations, the three opposition parties have demanded state-run organizations to remove themselves from the FKI.

The opposition parties have also called for the organization to be disbanded, referring to the FKI as a channel for corruption, and accused it of doing the biddings of the government.

In addition to the opposition parties, conservative and progressive private sector think tanks have also joined the call for FKI’s disbandment, claiming that the organization was a hindrance to economic development.

By Choi He-suk (cheesuk@heraldcorp.com)