Samsung Electronics on Monday officially submitted its intention to leave the Federation of Korean Industries(FKI), the nation's largest business lobby.
 
With the move, other Samsung affiliate companies are also expected to defect from the body that served as the collector of funds for the Mir and K-Sports foundations mired in the Choi Soon-sil scandal.
 
Earlier on December sixth of last year, Samsung Electronics Vice Chairman Lee Jae-yong unveiled before a parliamentary hearing that the tech giant will no longer pay the FKI membership fee and will withdraw from the group.
 
On December 27th, LG Group disclosed it would leave FKI, becoming the first of the nation’s top four conglomerates to do so.
 
SK and Hyundai Motor are also mulling ways to leave the lobby group.
 
Samsung, Hyundai, SK and LG have been paying around 70 percent of the FKI’s total annual fees of roughly 49-point-two billion won.