KEF chief meets Heritage Foundation head to boost policy cooperation

Sohn Kyung-shik, left, chairman of Korea Enterprises Federation, poses with Kevin Roberts, chairman of the Heritage Foundation while holding “Mandate for Leadership,“ a policy analysis report created by the foundation in Washington, D.C., Tuesday (local time). Courtesy of KEF

By Kim Hyun-bin

Chairman of Korea Enterprises Federation (KEF) Sohn Kyung-shik visited the Heritage Foundation in Washington, D.C., and met with the Chairman of the Heritage Foundation Kevin Roberts on Tuesday (local time). Discussions involved labor market reforms such as flexible working hours currently being pursued in Korea and ways to enhance cooperation between the two organizations in the future, according to the business lobby group, Wednesday.

Established in 1973, The Heritage Foundation is one of the leading nonprofit think tanks in the U.S. and serves as a policy advisory partner to the U.S. government.

Chairman Sohn and Mr. Roberts evaluated that President Yoon Suk Yeol's state visit to the U.S., with the largest-ever economic delegation to mark the 70th anniversary of the U.S.-Korea alliance, would serve as an opportunity to further strengthen the relationship and economic cooperation between the two countries.

"Recently, discussions on improving the labor law system, including working hours, have been underway in Korea. The Korean government seeks to improve the business and investment environment, increase economic vitality, and lay the foundation for job creation for future generations through labor reform," Chairman Sohn said.

"There is much to be learned from Korea's labor reform in the fact that there are no unnecessary labor-market regulations such as limits on overtime work in the United States, which allows many global and innovative companies to devote themselves to management activities and technological development."

Lastly, Chairman Sohn expressed his hope for cooperation between the two countries through economic and business-friendly environment building, saying, "The Heritage Foundation's pursuit of free enterprise and regulatory reform has much in common with KEF's activities."

During his visit to the U.S., Sohn will also discuss ways to strengthen economic cooperation and promote friendship with major figures in U.S. think tanks, such as John Hamre, president of the Center for Strategic and International Studies (CSIS), and Kathleen Stephens, director of the Korea Economic Institute of America (KEI).