Hwang Kyo-an Proposes Summit Meeting... "Corporate Tax Relief and Labor Flexibility Needed to Encourage Business Investment"

Hwang Kyo-ahn, leader of the United Future Party, is announcing a pledge related to the 4th Industrial Special Zone in front of the main gate of Seonggyungwan University in Jongno-gu, Seoul, on the 19th. / Photo by Candidate Hwang Kyo-ahn

[Asia Economy Reporter Park Cheol-eung] Hwang Kyo-ahn, leader of the United Future Party, publicly proposed a summit meeting to President Moon Jae-in. He emphasized the need to induce corporate investment through easing corporate tax burdens and securing labor flexibility.

On the 19th, Hwang stated in a press release, "The United Future Party will not hesitate to engage in bipartisan cooperation to overcome the national crisis. We will do everything possible at both the National Assembly and party levels." He also proposed the formation of a ruling-opposition consultative body.

He stressed, "Expanded fiscal spending alone is insufficient. To achieve proper effects, efforts to revive the private sector's own competitiveness must be pursued simultaneously. Corporate tax and various tax burdens should be eased, and labor flexibility secured to encourage free corporate investment."

He added, "To stabilize the stock market, an emergency financial stabilization organization should be established, and all possible measures must be mobilized. Currency swaps should be expedited to check foreign exchange safety measures, and if insufficient, they must be thoroughly supplemented," urging, "I hope the foreign exchange crisis contingency plan is swiftly activated."

He also called for a significant reinforcement of support measures for vulnerable groups and small business owners. Hwang said, "Low-income groups may face livelihood difficulties due to the suspension of economic activities," and urged, "The central government and local governments must prepare joint countermeasures."

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