CEOs Meeting Former Prime Minister Jeong Sye-gyun Say "Lee Jae-yong Pardon and Realistic Inheritance Tax Needed"

Korean Listed Companies Association Holds Policy Meeting with Former Prime Minister Jeong and CEOs

Former Prime Minister Chung Sye-kyun (seventh from the right) is taking a commemorative photo with CEOs at the Sangjanghoesa Hall in Mapo-gu, Seoul, on the 6th before a policy meeting. (Provided by Korea Listed Companies Association)

[Asia Economy Reporter Minwoo Lee] CEOs of listed companies met with former Prime Minister Jeong Seyeon, who is being mentioned as a potential next presidential candidate, to request solutions on issues such as the pardon of Samsung Electronics Vice Chairman Lee Jae-yong, normalization of inheritance tax rates, and protection of management rights.

The Korea Listed Companies Association announced on the 6th that it held a "Policy Meeting with Former Prime Minister Jeong Seyeon and CEOs of Listed Companies to Revitalize Corporate Vitality" at 2 p.m. at the Listed Companies Hall in Mapo-gu, Seoul.

Unlike past policy meetings with companies, which were conducted in the form of submitting opinion letters, this event was held in a Q&A format where company CEOs and Chief Financial Officers (CFOs) asked about corporate issues and former Prime Minister Jeong responded. In addition to former Prime Minister Jeong, attendees included Democratic Party lawmakers Lee Seong-man and Kim Kyung-man, Jeong Guyong, Chairman of the Listed Companies Association (Chairman of Inzi Controls), Park Jin-sun, President of Sempio Foods, Baek Woo-seok, Chairman of OCI, Kim Young-jae, President of Daeduk, Woo Ki-hong, CEO of Korean Air, Lee Ji-seon, CEO of Sinsung ENG, Noh Yong-hoon, Vice President of Shinhan Financial Group, Cho Young-bin, CFO of SeAH Steel, and Lee Ki-heon, Executive Vice Chairman of the Listed Companies Association.

At the meeting, business leaders reportedly requested the pardon of Samsung Electronics Vice Chairman Lee Jae-yong, the adjustment of inheritance tax rates to the average level of the Organization for Economic Cooperation and Development (OECD), enhancement of competitiveness in key industries such as shipping and aviation, improvement of the business environment including protection of management rights, and resolution of labor market rigidity.

The Listed Companies Association plans to compile opinions from KOSPI-listed companies and submit opinion letters regarding corporate-related bills to the National Assembly and relevant ministries. They also intend to hold similar events with other presidential candidates to ensure that corporate voices are reflected in election pledges.

Chairman Jeong of the Listed Companies Association stated, "Our businesspeople hope not simply for deregulation but for 'global standardization of regulations' to promote national economic and capital market development." He added, "Especially since semiconductors are not only the driving force behind overcoming the COVID-19 economic crisis but also a key resource in the intensifying technological hegemony war between countries, and with over 70% of the public in favor, we ask for active consideration of the pardon of Samsung Electronics Vice Chairman Lee Jae-yong from the perspective of national economic development."

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