Unyielding Government and Ruling Party... Economic Organizations Declare "Joint Response to Block Corporate-Related Bills"

Kim Yong-geun, Executive Vice Chairman of the Korea Employers Federation (second from the left), is giving a greeting at the Vice Chairmen Meeting of Economic Organizations held at the Korea Employers Federation Hall on the 7th.

[Asia Economy Reporter Kiho Sung] Economic organizations have decided to jointly respond to block seven bills, including the three economic system laws on the Commercial Act, the Fair Trade Act, and the Financial Group Supervision Act promoted by the government and ruling party, as well as the Labor Union and Labor Relations Adjustment Act, the Employee Retirement Benefit Security Act, the Employment Insurance Act, and the Act on Punishment of Enterprises and Responsible Persons for Serious Accidents.

On the 7th, the Korea Employers Federation, Korea Federation of Small and Medium Business, Korea Federation of Medium-sized Enterprises, Korea Listed Companies Association, Industrial Development Forum, and KOSDAQ Association gathered at 4 p.m. at the Federation of Korean Industries building in Mapo-gu, Seoul, to hold an 'Economic Organizations Vice Presidents Meeting' and made this decision.

Kim Yong-geun, the full-time vice president of the Federation of Korean Industries, said in his opening remarks, "In the current difficult situation due to the novel coronavirus infection (COVID-19), only our country has submitted bills that fundamentally restrict corporate activities," adding, "With the regular National Assembly discussions imminent, economic organizations felt the need to unite, coordinate if there are differences in positions, and respond jointly, which is why this meeting was arranged."

After the meeting, Vice President Kim told reporters, "There is no time to spare in responding to the bills," and explained, "We agreed that we must actively convey our stance."

As joint response measures, these organizations cited ▲ submission of a unified opinion letter to the National Assembly ▲ sharing of data and information ▲ delivering opinions through joint visits to the National Assembly ▲ jointly holding public hearings and seminars.

Vice President Kim also said, "Today's meeting is a continuation of discussions that have been held among working-level officials," and added, "I believe that the Federation of Korean Industries and the Korea Chamber of Commerce and Industry will naturally join the response after organizing their positions."

Six people attended the emergency meeting, including Kim Yong-geun, full-time vice president of the Federation of Korean Industries; Seo Seung-won, full-time vice president of the Korea Federation of Small and Medium Business; Ban Won-ik, full-time vice president of the Korea Federation of Medium-sized Enterprises; Jung Woo-yong, policy vice president of the Korea Listed Companies Association; Jung Man-ki, chairman of the Industrial Development Forum (chairman of the Korea Automobile Manufacturers Association); and Kim Jong-seon, executive director of the KOSDAQ Association.

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