Deputy Prime Minister Hong Nam-ki Meets CEOs of 5 Major Groups to Request 'Employment Retention and Investment Expansion'

Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Economy and Finance

[Asia Economy Reporter Kwangho Lee] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, met with CEOs of major conglomerates on the 15th to request the maintenance of employment and expansion of investment.

According to the Ministry of Economy and Finance, Deputy Prime Minister Hong held a breakfast meeting with professional managers from major companies such as Samsung, Hyundai Motor, LG, SK, and Lotte on the morning of the same day.

This meeting was organized to listen to the voices from the corporate field regarding overcoming the economic crisis caused by the novel coronavirus disease (COVID-19), economic recovery, and job preservation, and to gather policy suggestions for establishing the economic policy direction for the second half of the year, scheduled to be announced in early June, as well as preparations for the post-COVID era.

At the meeting, Hong Nam-ki said, "Although conditions are difficult, we ask companies to maintain employment as much as possible and to carry out planned investments without disruption to stimulate the economy."

In response, the attendees raised difficulties and challenges caused by COVID-19, including support and regulatory reforms to activate investment, expanded support for reshoring, and improved liquidity access for small and medium-sized partner companies.

After listening to the issues raised by companies, Hong Nam-ki emphasized, "We will strive to reflect these in future policies such as the economic policy direction for the second half of the year," and added, "Let all economic actors?government, companies, workers, and citizens?unite and overcome the crisis together."

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