Son Kyung-sik "Anti-corporate sentiment harms national competitiveness... Excessive misunderstandings and prejudices must be removed"

[Image source=Yonhap News]

[Asia Economy Reporter Yu Je-hoon] Sohn Kyung-shik, Chairman of the Korea Employers Federation, stated on the 1st, "The primary cause of the forced enactment of corporate regulatory legislation is largely rooted in the widespread anti-corporate sentiment in our society," adding, "Excessive misunderstandings and prejudices must be removed."

Chairman Sohn attended the symposium titled "Anti-Corporate Sentiment in Korea: Diagnosis of Causes and Improvement Measures" held at the Press Center in Jung-gu, Seoul, and said, "It is now a crucial national task to accurately view and fairly evaluate corporations to enhance the competitiveness of both companies and the nation."

Regarding the forced passage of the Commercial Act, the Fair Trade Act, and the Labor Union Act in December last year, as well as the Serious Accidents Punishment Act in January this year, Chairman Sohn pointed out, "Unlike major countries that are stimulating the economy by encouraging corporate vitality amid the COVID-19 situation, policies that burden companies are indiscriminately increasing, exacerbating difficulties in industrial sites."

He continued, stating that the background lies in anti-corporate sentiment: "Based on negative perceptions of companies and entrepreneurs, there are many cases in legislation, judiciary, and administration that impose burdens on corporations, and sometimes harsh criticism is received from the media. This can damage the positive value of companies and entrepreneurial spirit that realize job creation and income improvement amid global competition," he emphasized.

Chairman Sohn also said, "We will prioritize correcting distorted perceptions of companies and actively promote projects to create a corporate culture that trusts businesses," adding, "Through various initiatives such as media promotion, public campaigns, and economic education, we will strengthen multi-faceted communication with the public to establish a culture where our companies are trusted by the people."

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