A South Korean business lobby group has formed a special committee on inter-Korean economic cooperation and exchanges in line with the government's economic visions for the Korean Peninsula.

The Federation of Korean Industries (FKI) announced on Sunday that it has set up the committee and appointed HDC Group Chairman Chung Mong-gyu as the chief.

The FKI said that it has named Chung as the committee chief considering that the HDC Group has played leading roles in the business of infrastructure facilities such as roads, railways and ports, which are key parts for developing the North Korean economy.

Chung said that the committee is collecting opinions from businesses and experts on how to realize and promote the government's economic visions, support for rebuilding the North Korean economy and inter-Korean economic projects. He added that the committee will present its proposals to the government in September.

Chung, the head of South Korea's Korea Football Association, proposed at a FIFA general assembly in June that the two Koreas, China and Japan jointly host the World Cup in 2030 or 2034 to create a positive atmosphere for lasting peace in Northeast Asia.