Lee Jae-myung meets Choi Tae-won, says "Corporate innovation must shift to negative regulation"

[Image source=Yonhap News]

[Asia Economy Reporters Koo Chae-eun and Jeon Jin-young] Lee Jae-myung, the Democratic Party presidential candidate, stated on the 10th regarding the creation of a business-friendly environment, "If necessary, we must switch to negative (regulation). That is the core of regulatory innovation."

On the afternoon of the same day, Lee made these remarks during a meeting with Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, and other chamber chairpersons, saying, "The pace of social change is so fast that many things arise that the government cannot predict."

He emphasized, "The rules of fair competition need to be continuously expanded, and bureaucratic regulations should actually be reduced or eliminated," adding, "The essential role of the government is to open the field so that corporate creativity and innovation, the discovery of new industries, and new items can freely take place."

Chairman Choi responded, "If the regulatory system changes in a way that induces growth, corporate activities will become more active, which will also help the country grow."

He added, "The business community is also considering what direction the expanding role of companies should take, including social issues and environmental problems such as carbon emissions," and said, "We are working hard to create potential for growth. I believe the social system should move toward a state that nurtures potential."

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