KCCI strives to contain MERS fallout

Park Yong-maan, right, chairman of the Korea Chamber of Commerce and Industry (KCCI), speaks during a meeting with KCCI executive members at the Lotte Hotel in downtown Seoul, Monday. Park called on KCCI member firms to conduct business as usual, despite the Middle East Respiratory Syndrome (MERS) outbreak. / Courtesy of KCCI

By Lee Hyo-sik

The Korea Chamber of Commerce and Industry (KCCI) held an emergency executive meeting on Monday, calling on its 150,000 member companies to conduct business as usual to help alleviate the adverse impact on the economy from Middle East Respiratory Syndrome (MERS).

While presiding over the gathering attended by Shinsegae Group Vice Chairman Chung Yong-jin and other executive members, KCCI Chairman Park Yong-maan said companies should carry on with business as usual.

“Unfortunately, the MERS outbreak has been negatively affecting economic activities over the past month. Now is time for us to work together to end the ‘MERS-triggered downturn’ once and for all,” Park said. “KCCI members should hold scheduled functions, encourage employees to go on vacation as scheduled and purchase goods produced by small businesses.”

He said the KCCI will prompt its members to make investments and hire workers as planned, adding that it will help companies take advantage of free trade agreements (FTAs) Korea has signed with other countries and create a more cooperative labor-management relationship.

Park also pledged to boost cooperation with 130 foreign chambers of commerce operating in Korea to dispel concerns among foreign communities over the MERS outbreak.

“We will ask foreign business communities here to invest and hire workers as planned. We also would like them to tell their respective countries that it is safe to visit Korea,” the chairman said. “Above all, business communities, Korean or non-Korean, should overcome the unfounded MERS panic and go on living normal lives.”

The KCCI chairman then urged policymakers to introduce a set of stimulus measures to reinvigorate the sagging economy.

“The government needs to extend financial aid to businesses hit by the MERS outbreak,” Park said. “At the same time, policymakers should introduce a large-scale supplementary budget to revitalize the economy. They also need to pay more attention to easing regulations and overhauling the labor market.”