Moon to meet business leaders on Tuesday

President Moon Jae-in makes his opening remarks at the start of a meeting with senior presidential secretaries at Cheong Wa Dae, Monday. Yonhap

By Kim Yoo-chul

President Moon Jae-in will meet a group of business leaders Tuesday at Cheong Wa Dae for discussions on pending economic issues.

“There won't be pre-selected questions and scenarios. We have no plan to limit questions. All participants will be given the chance to ask the President any questions. Questions will be answered by the President and ministers of relevant ministries,” Cheong Wa Dae said in a press release, adding the meeting will last for 150 minutes from 2 p.m.

Top decision-makers from about 130 leading conglomerates will attend the “townhall-style” meeting,” allowing participants to voice their opinions freely without any formalities and where the President can openly communicate.

High-profile executives who will attend the meeting include Samsung Vice Chairman Lee Jae-yong, Hyundai Motor Group Executive Vice Chairman Chung Eui-sun, LG Chairman Koo Kwang-mo, Lotte Chairman Shin Dong-bin, GS Chairman Huh Chang-soo and Hanwha Chairman Kim Seung-youn, Cheong Wa Dae said.

Presidential chief of staff Noh Young-min, presidential chief of policy Kim Soo-hyun, Finance Minister Hong Nam-ki, Trade Minister Sung Yoon-mo and the ruling Democratic Party of Korea (DPK) Floor Leader Hong Young-pyo will represent the government's side.

A Cheong Wa Dae official said the President will stress the needs to achieve economic democracy through a fair economy, helping achieve a balance between ordinary people, back-alley businesses, SMEs and conglomerates.

The meeting follows Moon's recent gathering with leaders of small- and medium-sized enterprises (SMEs). Slowing growth and weakening employment data are weighing on the President.

Moon was elected in 2017 on the back of commitments to create jobs and reduce inequality in the country that has for decades been dominated by a handful of wealthy conglomerates. However, Moon's efforts, which included raising the minimum wage in a bid to spur consumption, have fallen flat.