[21st General Election] Economic Groups Expect a "Working National Assembly"... Must Lead Overcoming the COVID-19 National Crisis

[Asia Economy Reporter Kim Hyewon] On the 15th, as the 21st National Assembly general election was held, major economic organizations unanimously urged the new National Assembly to take the lead in the prompt normalization of the Korean economy, which has been contracted due to the novel coronavirus infection (COVID-19).

The Korea Chamber of Commerce and Industry (KCCI) issued a commentary titled "Wishes for the 21st National Assembly" on the day, stating, "The business community hopes that the 21st National Assembly will be a National Assembly that works for 'national development and the happiness of the people,'" adding, "The responsibility of the 21st National Assembly is inevitably heavy at a time when it must recover the economy and livelihoods that have been difficult due to the COVID-19 crisis and open a new path for the Korean economy."

The KCCI expressed expectations that the 21st National Assembly will become a "working National Assembly" that properly handles livelihood bills, a "field National Assembly" that listens to voices from the field, and a "magnanimous National Assembly" that practices great politics with the people in mind.

The Korea Employers Federation (KEF) requested that the 21st National Assembly overcome the complex economic crisis triggered by the COVID-19 situation and demonstrate its role and leadership as a focal point for economic revitalization. KEF said, "In particular, we ask that an environment be created where companies can overcome the current crisis and achieve sound economic development and create more jobs," adding, "Furthermore, we urge the establishment of policies and legislative activities from a rational perspective of enhancing national competitiveness."

The Korea International Trade Association (KITA) emphasized, "We hope the 21st National Assembly will take the lead in promptly normalizing the Korean economy, which has contracted due to COVID-19, through politics of coexistence, fairness, and innovation," and added, "The trade industry will also cooperate with the National Assembly to support economic recovery by focusing on strengthening the competitiveness and innovation capabilities of domestic manufacturing and service industries and pioneering overseas markets."

It continued, "As countries lock their doors amid the recent spread of COVID-19, just as 'K-quarantine' such as diagnostic kits serves as a clue for transnational cooperation, we expect the new National Assembly to elevate dialogue and compromise into solidarity and harmony, laying the foundation for corporate innovation and strengthening overseas competitiveness."

The Federation of Korean Industries (FKI) also mentioned that the 21st National Assembly should unite efforts to overcome the national crisis. FKI said, "We sincerely hope that bipartisan efforts will be made so that our economy can overcome this crisis and take off again," pointing out, "It is necessary to create a business-friendly environment by fully supporting industries in difficulty and through regulatory reform and labor market reform." In addition, it added, "The business community will also do its best to protect jobs by faithfully fulfilling its original role."

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