The Korea Chamber of Commerce and Industry (KCCI) has taken significant actions following an investigation by the Ministry of Trade, Industry and Energy regarding a fake news scandal related to inheritance tax. Two executives, including a senior director and the head of the department responsible for the misleading press release issued on the topic, have been dismissed from their positions. Additionally, the KCCI's Executive Vice Chairman has opted to resign amidst the fallout, indicating a serious acknowledgment of the controversy's implications.

The scandal originated from a press release issued by the KCCI on March 3, which inadvertently ignited a public outcry regarding fake news about inheritance tax. This issue became further complicated with concerns regarding budget-related matters from the KCCI's involvement in a summit held during the Asia-Pacific Economic Cooperation (APEC) conference last year. In light of these findings, the organization has expressed a commitment to reform its internal structures and decision-making processes to prevent future occurrences of similar incidents.

KCCI President Chey Tae-won expressed regret over the situation and committed to using this as a pivotal moment for restructuring the KCCI’s governance and compliance systems. New measures will be implemented, including the establishment of a 'Chief Economic Research Officer' position aimed at overseeing research functions and fact-checking processes, as well as the enhancement of internal compliance mechanisms. This reflects the KCCI's intent to address accountability while integrating varied stakeholder interests in policy proposals moving forward.