FKI Attends U.S. B20 Summit, Steps Up Preparations for 2028 G20 Presidency

Representing Korea's Business Community, Korea Conveys Its Role
Policy Discussions on Trade, Innovation, Energy and Economic Growth
Vice Chairman Kim Changbeom: "B20 Must Shift to a Practical Model"

The Federation of Korean Industries (FKI), representing Korea's business community, attended the 2026 USA B20 Summit in the United States and conveyed its views on Korea's role. It also laid the groundwork for cooperation with the global business community ahead of Korea's assuming the G20 and B20 presidencies in 2028.

The FKI said on November 11 that it had participated in the 2026 USA B20 Summit, hosted by the U.S. Chamber of Commerce in Washington, D.C., from November 9 to 11. With the G20 Summit scheduled to be held in Miami, Florida, this December, the FKI used the event to explain the role of Korea's business community and its vision for the future direction of the B20 to business leaders from major countries.

The B20 is the official private-sector business advisory body to the G20 Summit. It is hosted each year by the leading business organization of the country holding the G20 presidency. Major companies and business organizations from around the world develop policy recommendations in key areas, including trade, energy, economic growth, and digital affairs, and present them to G20 leaders.

Over the past year, the FKI participated alongside leading Korean companies in four B20 working groups covering trade, innovation, energy, and economic growth. During discussions in each group, it urged that global issues facing Korean companies and the views of Korean industry be reflected in the policy recommendations. The related proposals were adopted at the summit.

The Federation of Korean Industries participated in the 2026 USA B20 Summit, hosted by the U.S. Chamber of Commerce in Washington, D.C., from the 9th to the 11th. Kim Changbeom, vice chairman of the FKI (back row, sixth from left), attended as Korea’s representative and is pictured with other attendees. FKI.

At the plenary session held on the final day of the event, a "B20 Troika Session" brought together the heads of business organizations from the current, next, and subsequent B20 host countries. Kim Changbeom, FKI vice chairman and Korea's representative, joined Suzanne Clark, president of the U.S. Chamber of Commerce, and Rain Newton-Smith, director-general of the Confederation of British Industry, on stage to discuss directions for medium- and long-term cooperation among business communities.

The B20 Troika is a cooperation framework designed to ensure continuity in the global business agenda and effective policy implementation even as the host country changes. The heads of business organizations from the United States, this year's host country; the United Kingdom, the next host country; and Korea, the 2028 host country, met to coordinate policy priorities and cooperation plans.

At the session, Vice Chairman Kim stressed, "Building on the strengths of the Korean economy, we will serve as a strong bridge connecting the business communities of advanced and emerging economies." He added, "For B20 policy recommendations to translate into voluntary investment and action by businesses, they must be turned into a 'practical model' that includes tangible incentives and support measures." He also proposed that "it is urgent to build a system to ensure medium- and long-term continuity in multilateral trade agendas and set priorities for their content." He said, "We will begin preparations in earnest as early as next year to ensure the successful hosting of the G20 and B20 in 2028."

Kim Changbeom, vice chairman of the Federation of Korean Industries, attends a discussion with Suzanne Clark, president of the U.S. Chamber of Commerce, and Rain Newton-Smith, director general of the Confederation of British Industry (CBI). Federation of Korean Industries.

During the summit, the FKI also held a series of meetings with business organizations from major countries, strengthening the foundation for cooperation ahead of Korea's hosting of the B20 in 2028. It met with representatives of key partner-country business organizations, including Rain Newton-Smith, director-general of the Confederation of British Industry; Anindya Bakrie, chairman of the Indonesian Chamber of Commerce and Industry; and Innes Willox, chief executive officer (CEO) of the Australian Industry Group, to discuss ways to expand exchanges among business communities.

The FKI also took part in networking events attended by business leaders from major countries, including the Strategic Industry Dialogue, organized by the Federation of German Industries (BDI) and focused on the business communities of the Group of Seven (G7).

Vice Chairman Kim also held a separate meeting with Maryland Governor Wes Moore to discuss ways to expand exchanges between Maryland and Korea's business community. Governor Moore recently won reelection in the U.S. midterm elections and currently serves as chair of the National Governors Association (NGA).

This content was produced with the assistance of AI translation services.