The Federation of Korean Industries (FKI) is regaining stature as a major channel for the nation’s economic diplomacy by spearheading a series of high-profile global business forums. The once-dominant business lobby saw its influence wane after its involvement in the 2016 corruption scandal that led to the impeachment of former President Park Geun-hye. Following the scandal, major conglomerates withdrew their FKI membership en masse. This has allowed the Korea Chamber of Commerce and Industry (KCCI) to take the lead among the local business associations. FKI, however, has restored much of its previous presence by successfully taking on a role as a key organization for Korea’s overseas economic engagement under the administration of President Lee Jae Myung. The business lobby hosted a business forum between Korea and Brazil on Monday. A group of top conglomerate leaders, including Samsung Electronics Executive Chairman Lee Jae-yong, attended the high-profile event to seek business opportunities with Brazilian counterparts. In November last year, FKI also successfully organized the Kore