President Lee Jae-myung on the 4th invited the heads of Korea's top 10 business groups to the Blue House and asked them to take the lead on "youth employment" and "expanding investment in the provinces." In response, the business community said that major top-10 groups, including Samsung Electronics, SK Group, and Hyundai Motor, are planning up to 300 trillion won in provincial investment over five years.
On the afternoon of the day at the Blue House, Lee presided over a "corporate roundtable to expand youth jobs and provincial investment" and said, "It would be good if the fruits of growth spread warmth evenly to small and midsize enterprises and the provinces, and not only to the established generation that holds certain positions but also to the youth generation newly entering society," adding, "Businesspeople have cooperated a lot and contributed greatly to government policy so far, but I ask you to put in a bit more heart."
He also said, "Last year, corporations greatly expanded their hiring, and I thank you especially for increasing youth employment," and added, "Corporations are running many employment and education programs as part of social contributions, and starting this year the government will provide more budget support, so I ask you to make a bit more effort to expand youth employment opportunities through public-private cooperation."
In response, the Federation of Korean Industries (FKI) said that the major 10 groups and others would take the lead and invest up to 300 trillion won in the provinces over five years. FKI Chairman Ryu Jin said, "To create youth jobs and boost regional economies, the business community intends to respond with active investment," adding, "Right now the major 10 groups are planning about 270 trillion won in provincial investment over five years, and if we add investment outside the top 10 groups, I think we could reach around 300 trillion won."
Ryu said, "We aim to inject vitality into regions through bold investment and provide job opportunities to disadvantaged provincial youth," adding, "Along with increasing new hires, we will also expand education and training programs and pursue employment and job training, internships, and on-site customized training, including AI 'all-hands' workforce programs." He then said, "We also ask the government for exceptional support so that corporations' recruitment and employment plans can proceed without a hitch."
Attending the roundtable were Ryu; Samsung Electronics Chairman Lee Jae-yong; SK Group Vice Chairman Choi Chang-won; Hyundai Motor Chairman Chung Eui-sun; LG Chairman Koo Kwang-mo; Lotte Group Chairman Shin Dong-bin; POSCO Group Chairman Chang In-hwa; Hanwha Group Vice Chairman Kim Dong-Kwan; HD Hyundai Group Chairman Chung Ki-sun; GS Group Chairman Huh Tae-soo; and Hanjin Group Chairman Cho Won-tae.