Jung Gu-yong, chairman of the Korea Listed Companies Association, noted in a New Year’s address on the 31st that "What is immediately important for our economy is to reduce political instability and economic uncertainty, and to maintain Korea's competitiveness."
Chairman Jung said, "To ensure that our corporations can compete equally with global companies in domestic and international markets, the government and the National Assembly must ease unnecessary regulations that worsen the business management environment and improve it to enhance international compatibility. Moreover, the government should provide proactive support, such as tax incentives, to corporations making efforts in market diversification, securing stable supply chains, advancing industrial structures, investing in new businesses, and developing core technologies to create high added value."
Jung added, "In our capital market, a reasonable system that can enhance the stability of corporate management rights and promote healthy shareholder engagement must be established to create an environment for mutually beneficial values between companies and shareholders." He emphasized that "our corporations have always found opportunities in crises. Even in difficult conditions, they will strive to create new growth engines and solidify their position as a strong pillar of our economy."
At the same time, Chairman Jung referenced the Jeju Air incident, stating, "Just as a transparent investigation into the cause of the accident is necessary, our corporations need to thoroughly prepare scenarios and response plans for at least foreseeable disasters to continue their business activities and grow."
Chairman Jung added, "Through close cooperation with policy authorities, we will take the lead in supporting the reasonable operation and improvement of the systems related to listed companies, while proactively identifying and addressing current issues of listed companies to ensure no hurdles in corporate management."