President Lee Jae-myung said on the 19th regarding the amendments to Articles 2 and 3 of the Labor Union and Labor Relations Adjustment Act (Labor Union Act) and the second amendment to the Commercial Act that the ruling party is expected to process this month, that it should align with advanced countries, while also noting, 'We need to discuss the relaxation of corporate regulations and the easing of embezzlement laws together.'
According to Spokesperson Kang Yu-jeong of the Presidential Office, President Lee met with major corporate leaders at the Presidential Office in Yongsan that morning and stated, 'There are principles that must be upheld regarding labor and the Commercial Act at the level of advanced countries and globally,' adding, 'On the other hand, we also need to move towards measures that relax regulations on corporations and ease embezzlement laws.'
This meeting was organized to check investment plans from businesses visiting the U.S. and maximize cooperation results ahead of the Korea-U.S. summit scheduled for next week. Since this is the first Korea-U.S. summit of the new government, corporate support is needed to back the investments that President Donald Trump wants. In this situation, the President directly promised to review measures to ease embezzlement laws to offset concerns from the business community regarding legislation.
President Lee expressed gratitude for the efforts of corporate leaders in the previous tariff negotiations and urged them to cooperate in future investments in the U.S.
President Lee said, 'The efforts made by corporations during this tariff negotiation led to better results than expected.' He continued, 'The government's top goal is to revive the economy and lay the foundation for sustainable growth,' while stating, 'Both the government and corporations are experiencing difficulties due to changing export conditions, but let us unite to turn this crisis into an opportunity.'
Corporate leaders agreed that this summit should serve as an opportunity to promote Korean companies' entry into the U.S. market and enhance industrial competitiveness. Ryu Jin, chairman of The Federation of Korean Industries, stated, 'The uncertainty for corporations has been eliminated through the Korea-U.S. tariff negotiations, restoring growth potential,' and added, 'As a firm partner of the government, we will do our best.'
Lee Jae-yong, chairman of Samsung Electronics, stated, 'Regardless of the investments in the U.S., we will continuously make quality jobs and nourish high-value industries with relevant investments.' Seo Jeong-jin, chairman of Celltrion, remarked, 'A crisis can become an opportunity,' while stating, 'We must prepare for future industries with a shift in mindset,' and further noted, 'To cultivate capable young entrepreneurs, we need to increase startup investments rather than relying solely on collateral loans.'
President Lee listened to the suggestions from corporate leaders and responded, 'I hope the corporate leaders accompanying the U.S. visit will produce substantial results on site,' Spokesperson Kang reported.
Attending the meeting were Ryu Jin, chairman of The Federation of Korean Industries, Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry, Lee Jae-yong, chairman of Samsung Electronics, Koo Kwang-mo, chairman of LG, Cho Won-tae, chairman of Korean Air, Kim Dong-kwan, vice chairman of Hanwha, Jang Jae-hoon, vice chairman of Hyundai Motor, Park Ji-won, chairman of Doosan Enerbility, and Seo Jeong-jin, chairman of Celltrion. From the Presidential Office, key aides including Kang Hoon, chief secretary, Kim Yong-beom, policy chief, and Ha Jun-kyung, chief economic growth officer, were also present.