Chairman Park Yong-man: "COVID-19 Affects Exports and Domestic Market... Proactive Response Is Important"

'COVID-19 Response Economic Leaders Meeting'
President Moon Jae-in and Business Leaders Attend

[Asia Economy Reporter Dongwoo Lee] Park Yong-man, Chairman of the Korea Chamber of Commerce and Industry, requested the government on the 13th for intensive support over the course of one month in relation to the spread of the novel coronavirus infection (COVID-19).

At the 'COVID-19 Response Economic Council Meeting' held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, on the morning of the same day, Chairman Park said, "I believe it is very important that we respond proactively."

Chairman Park diagnosed, "It is true that our economic sector is very concerned due to the recent situation. China is our closest neighboring country and an economic community, and the damage spreading in China is significantly transferring to our economy. Domestically, psychological fear is growing, affecting exports and domestic demand."

He then proposed, "I ask for the government's intensive support throughout February so that normal operations within China can be resumed quickly." Chairman Park expressed concern, saying, "This week, after the Lunar New Year holidays ended and the Chinese government announced corporate activity measures, will be a turning point. There are still small and medium-sized enterprises experiencing difficulties in securing manpower and parts."

Chairman Park argued, "Yesterday, the government announced exemption from active administrative duties, but if it goes further to the extent of abolishing policy audits for this incident, public officials will be more actively engaged in policy development and execution regarding this situation, which will help address the issue."

Chairman Park said, "The series of processes based on expert judgment to respond quickly and reasonably to this situation is a valuable and progressive experience for the nation. The economic sector will also do its best."

Meanwhile, the meeting was attended by President Moon Jae-in, Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, Sung Yun-mo, Minister of Trade, Industry and Energy, Park Young-sun, Minister of SMEs and Startups, Eun Sung-soo, Chairman of the Financial Services Commission, among others. From the business community, Chairman Park, Samsung Electronics Vice Chairman Lee Jae-yong, Hyundai Motor Vice Chairman Yoon Yeo-chul, SK Chairman Chey Tae-won, LG Chairman Koo Kwang-mo, Lotte Holdings Vice Chairman Hwang Kak-kyu, and CJ Chairman Lee Jae-hyun participated together.

This content was produced with the assistance of AI translation services.