Policymakers, entrepreneurs should not fight but work together
The war of words between Financial Services Commission Chairman Choi Jong-ku and SoCar CEO Lee Jae-woong is drawing public attention. Choi criticized Lee as "impolite and selfish" after Lee commented about a cab driver's death amid friction between his ride-sharing startup and the taxi industry. Lee countered with sarcasm, saying, "What's the matter with this person? Is he going to run for an elected job or something?"
A clash between the top financial regulator and the manager of a private enterprise was hardly thinkable in the past. The authorities, armed with all kinds of powers, could punish disobedient businesses in various ways, including antitrust controls or tax audits. The spat between a bureaucrat and an entrepreneur may indicate the government's business policy has become so fair and transparent that companies no longer need to watch the face of policymakers or regulators.
The favorable evaluation of this tit-for-tat should end there, however. Most observers seem to view the ongoing verbal battle as undesirable, especially when the national economy is in a slump. Both people can hardly avoid blame in this regard. We cannot help but wonder why Choi made a frontal attack on one of the best-known IT businessmen. The FSS head's criticism of the IT startup CEO was out of the blue. Lee's was little better. Choi's denunciation of Lee was targeting the latter's unrefined rhetoric against the taxi industry, not taking issue with his seeming challenge to economic policymakers. Lee's sarcastic response and his comments on Choi's possible entry into politics were not in good taste.
In a more desirable scenario, Choi should have been leading efforts to mediate the frontrunners of the mobility service revolution and its victims ― taxi drivers in this case. It also would have been far better if Lee had shown more respect to the disadvantaged sector and taken part in three-way talks to minimize damage on the latter. It is time to stop fighting and hold sound debates and consultations about newly emerging industries, helping to create an innovative, win-win economy.
The war of words between Financial Services Commission Chairman Choi Jong-ku and SoCar CEO Lee Jae-woong is drawing public attention. Choi criticized Lee as "impolite and selfish" after Lee commented about a cab driver's death amid friction between his ride-sharing startup and the taxi industry. Lee countered with sarcasm, saying, "What's the matter with this person? Is he going to run for an elected job or something?"
A clash between the top financial regulator and the manager of a private enterprise was hardly thinkable in the past. The authorities, armed with all kinds of powers, could punish disobedient businesses in various ways, including antitrust controls or tax audits. The spat between a bureaucrat and an entrepreneur may indicate the government's business policy has become so fair and transparent that companies no longer need to watch the face of policymakers or regulators.
The favorable evaluation of this tit-for-tat should end there, however. Most observers seem to view the ongoing verbal battle as undesirable, especially when the national economy is in a slump. Both people can hardly avoid blame in this regard. We cannot help but wonder why Choi made a frontal attack on one of the best-known IT businessmen. The FSS head's criticism of the IT startup CEO was out of the blue. Lee's was little better. Choi's denunciation of Lee was targeting the latter's unrefined rhetoric against the taxi industry, not taking issue with his seeming challenge to economic policymakers. Lee's sarcastic response and his comments on Choi's possible entry into politics were not in good taste.
In a more desirable scenario, Choi should have been leading efforts to mediate the frontrunners of the mobility service revolution and its victims ― taxi drivers in this case. It also would have been far better if Lee had shown more respect to the disadvantaged sector and taken part in three-way talks to minimize damage on the latter. It is time to stop fighting and hold sound debates and consultations about newly emerging industries, helping to create an innovative, win-win economy.
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