PPP candidate vows to appoint secretary to address corporate challenges
People Power Party presidential candidate Kim Moon-soo, center, smiles during a meeting with leaders of Korea's top business associations and lobby groups at the Korea Chamber of Commerce and Industry in central Seoul, Thursday. Joint Press Corps
Conservative People Power Party (PPP) presidential candidate Kim Moon-soo promised Thursday to create a senior presidential secretary position overseeing business challenges during a meeting with the heads of Korea’s top business associations and lobby groups.
During the meeting held at the Korea Chamber of Commerce and Industry (KCCI) in Seoul, Kim also stressed that the government’s role is to support businesses’ economic activities.
“The most important and biggest promise in my campaign is that I will make a country favorable for businesses,” Kim said. “The president’s job is to ensure that companies can freely conduct research, make investments, expand globally and create jobs.”
The meeting focused on delivering policy recommendations from the business community to the presidential candidate and listening to his economic policy ideas. The participants included KCCI Chairman Chey Tae-won, Korea Enterprises Federation Chairman Sohn Kyung-shik, Federation of Korean Industries Chairman Ryu Jin, Korea International Trade Association Chairman Yoon Jin-sik and Federation of Middle Market Enterprises of Korea Chairman Choi Jin-shik.
To ensure a business-friendly political landscape, Kim said he would establish a senior presidential secretary position dedicated to communicating with the business community.
“Corporate leaders should be able to speak freely about issues like excessive labor regulations, but right now many of them feel they can’t,” he said.
“There is a widespread sense that speaking out may lead to unfavorable consequences … I have been paying a lot of attention to how to address the current situation, where corporate leaders hesitate to express their opinions for fear of disadvantages such as tax investigations.”
During the meeting, the conservative candidate slammed liberal Democratic Party of Korea presidential candidate Lee Jae-myung, accusing him of lying by promising to revive the economy while actually worsening the business environment.
“How can you say that you will revive the economy while pursuing excessively punitive laws, such as the Serious Accidents Punishment Act or the so-called Yellow Envelope Bill?” Kim said, calling it “nonsense.”
The Serious Accidents Punishment Act allows criminal punishment of CEOs or company leaders in the event of serious workplace accidents. The Yellow Envelope Bill is a set of pending law revisions aimed at preventing companies from filing damage claims against worker strikes.
The Yellow Envelope Bill has been vetoed twice by former President Yoon Suk Yeol, and earlier this month, Lee pledged to pursue the revision.
During the meeting, the five business associations delivered their policy recommendations to Kim, calling for stronger support for growth drivers and regulatory reform. They also emphasized the need to improve trade and export strategies, as well as other government-led support for growth across capital, labor and workforce policies.