Lee Promises Business-Friendly Policy
By Yoon Won-sup
Staff Repoter
President-elect Lee Myung-bak said Friday that he will make a ``business-friendly'' government to realize his campaign pledge of reviving the economy. Business leaders vowed that they will make efforts to increase investment.
``The only thing the government can do to create jobs is to encourage companies to invest in a business-friendly environment,'' Lee said during a meeting with the chairmen of such conglomerates as Samsung, Hyundai Motor, LG and SK.
Lee further said his meeting with CEOs is to demonstrate his strong will to create a pro-business environment.
Lee also encouraged the tycoons to create more jobs, which he said is one of the most pressing issues in Korea.
``I have experience (as CEO), too. It is impossible to invest unless there is profit,'' Lee continued. ``Our people want corporations to work under global standards.''
Lee also promised to establish a management-labor culture based on the principle of law and order.
``Militant labor strikes have frequently inflicted damage on companies and scared foreign companies away from investing here,'' he said. ``My government will seek law-abiding labor-management relations.
Recalling that the Federation of Korean Trade Unions, the second largest labor organization in Korea, officially supported him during the campaign, Lee encouraged the CEOs to seek win-win relations with the workers.
Lee made it clear that he will not tolerate a real estate price increase.
``I think the current real estate policy needs to be revised, but I like to stress that the price of real estate will not increase during my presidency,'' he said. ``Personally, I consider houses in Korea too expensive. I'll adopt real estate policies within a framework of not fanning hikes in home prices.''
Cho Suck-rai, chairman of the Federation of Korean Industries, said the CEOs welcome the economy-first President and will develop the economy with close cooperation with the new government.
Cho suggested that the incoming government deregulate, be strict on illegal strikes and open dialogue channels with businessmen.
The participants include Samsung Chairman Lee Kun-hee, Hyundai Motor Chairman Chung Mong-koo, LG Chairman Koo Bon-moo and SK Chairman Chey Tae-won.
Samsung's Lee Kun-hee said the so-called 747 campaign pledge of realizing 7 percent growth, $40,000 per capita GNP and G-7 club, will be attainable.
In the meantime, the meeting also attracted attention because Samsung Chairman Lee made his first public appearance since Samsung's alleged involved in a massive slush fund scandal. However, he did not make any comment to reporters.