Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
National Assembly audit awaits business leaders after Chuseok holiday
Rep. Yoon Han-hong of the main opposition People Power Party, the chairperson of the National Policy Committee, bangs the gavel during a committee meeting at the National Assembly in Seoul, Monday, to confirm the list of witnesses for this year's Assembly audit. Yonhap
By Park Jae-hyuk
SK chairman asked to testify during APEC CEO Summit
A large number of conglomerate leaders have been called to testify at the National Assembly audit again this year, after ruling Democratic Party of Korea (DPK) lawmakers refused to follow party leadership's recommendation to refrain from summoning businesspeople to the annual event.
Despite the pressing need to brace for the Asia-Pacific Economic Cooperation (APEC) CEO Summit and U.S. tariffs, business leaders have been required to spend time on the first Assembly audit under the Lee Jae Myung administration.
SK Group Chairman Chey Tae-won was put on the list of witnesses for the National Policy Committee's audit sessions over an allegation he unfairly financed a group affiliate. Also leading the Korea Chamber of Commerce and Industry that chairs the APEC CEO Summit, Chey was asked to appear at the National Assembly on Oct. 28, the opening day of the international gathering in Gyeongju, North Gyeongsang Province.
SK Group Chairman Chey Tae-won takes an oath at the National Assembly in Seoul, Oct. 24, 2022, after being summoned as a witness to testify at the Science, ICT, Broadcasting and Communications Committee's audit of the Ministry of Science and ICT. Newsis
Hyundai Motor Group Executive Chair Chung Euisun, who supported the government's talks with the United States over tariffs, is among the witnesses to testify at the Public Administration and Security Committee's audit of the National Policy Agency set for Oct. 17.
Chung faces questions about the automaker's security guards, who quelled a protest by subcontracted workers in front of company headquarters in Seoul earlier this year.
Shinsegae Group Chairman Chung Yong-jin has also been summoned by the Trade, Industry, Energy, SMEs, and Startups Committee, which plans to ask him about protecting the data of Korean consumers using online platforms.
MBK Partners Chairman Michael ByungJu Kim and Coupang founder Bom Kim, both of whom are U.S. nationals, were also called to testify at this year's Assembly audit.
Theborn Korea CEO Paik Jong-won, a celebrity restaurateur known for his role as a judge on the Netflix cooking competition show "Culinary Class Wars," was slated to answer allegations that his company unfairly supplied products to festivals in rural areas and violated the Food Sanitation Act.
"Our party leadership once again asked each standing committee to refrain from recklessly summoning businesspeople, since we are the ruling party," Rep. Mun Geum-ju, the floor leader of the DPK, told reporters Wednesday.
However, he added that each committee still has the right to decide how many businesspeople to summon.
In addition to conglomerate chairmen, lawmakers have also called CEOs and other senior executives to attend the Assembly audit.
The Environment and Labor Committee specifically selected CEOs of major construction firms as witnesses to testify on fatal industrial accidents at construction sites, despite the Land Infrastructure and Transport Committee also planning to summon them.
"Although businesspeople were included as witnesses, our request to add union leaders was denied," said Rep. Woo Jae-jun of the main opposition People Power Party, a member of the Environment and Labor Committee.
Critics argue that lawmakers use business leaders to draw public attention.
"Most businesspeople end up wasting their valuable time at the National Assembly with barely a chance to say a few words," said an official at one of Korea's leading conglomerates. "Lawmakers should stop putting businesspeople on the spot for political reasons."