Choi Sang-mok, Deputy Prime Minister and Minister of Strategy and Finance, held a meeting with representatives of six economic organizations at the Korea Chamber of Commerce and Industry in Seoul on the 16th, requesting cooperation to minimize economic uncertainty caused by the impeachment situation. This meeting comes 12 days after the first encounter with the economic sector following the declaration of martial law on the 4th.
The meeting was attended by Kim Ki-mun, Chairman of the Korea Federation of SMEs, Sohn Kyung-shik, Chairman of the Korea Enterprises Federation, Choi Jin-sik, Chairman of the Korean Senior Businessmen Association, Park Il-joon, Full-time Vice Chairman of the Korea Chamber of Commerce and Industry, Kim Chang-beom, Full-time Vice Chairman of the Korea Economic Federation, and Lee In-ho, Full-time Vice Chairman of the Korea International Trade Association.
Deputy Prime Minister Choi emphasized, saying, “The economic team will perform its duties unwaveringly,” and stated, “We will thoroughly manage external credibility and respond quickly to uncertainties in the trade environment.”
Deputy Prime Minister Choi urged economic organizations to take an active leadership role to ensure that corporate management activities are not hindered. He requested support so that investment, export, and employment can proceed normally and emphasized the participation of the economic sector in strengthening industrial competitiveness. He also asked for cooperation to ensure that year-end events and gatherings proceed normally.
The six economic organizations agreed on the importance of minimizing the political vacuum and maintaining continuity of policies. Chairman Kim Ki-mun suggested, “In a situation where the damage to small business owners and SMEs is significant, it is necessary to create an atmosphere for year-end gatherings” and proposed the participation of economic organizations in the ruling-opposition-government consultative body. Chairman Sohn Kyung-shik urged, “Please actively promote economic stabilization measures so that corporations can focus on investment and management.”
Chairman Choi Jin-sik stated, “The mid-sized business community is striving to boost investment and employment for economic vitality” and requested the government to actively enhance global credibility. Park Il-joon, Full-time Vice Chairman of the Korea Chamber of Commerce and Industry, mentioned the need to pass major economic bills and the semiconductor special law within the year, stating, “We need to prepare policy responses for different economic scenarios.”
Kim Chang-beom, Full-time Vice Chairman of the Korea Economic Federation, emphasized the stabilization of the foreign exchange market and the continuous momentum of new growth industries. He noted, “We must quickly provide incentives for foreign investment and prevent the decline in investor sentiment overseas.” Lee In-ho, Full-time Vice Chairman of the Korea International Trade Association, warned of the possibility of a slowdown in exports next year, requesting, “The government should actively respond to changes in the global trade environment.”
Deputy Prime Minister Choi expressed, “If the government and corporations cooperate, this crisis can be turned into an opportunity to strengthen industrial competitiveness,” and declared, “We will focus all of the government's capabilities.”