Choi Tae-won Meets Yoon Seok-yeol: "Invest in Future Infrastructure"

Meeting Between Sangui Leadership and Presidential Candidates

Chairman Chey Tae-won of the Korea Chamber of Commerce and Industry shakes hands with Yoon Seok-yeol, the People Power Party's presidential candidate, who visited the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on the 16th. Photo by National Assembly Press Photographers Group

[Asia Economy reporters Hyunju Lee and Boryeong Geum] Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry, met with Yoon Seok-yeol, the People Power Party's presidential candidate, to request regulatory reform and investment in future growth industries. In response, candidate Yoon expressed agreement with Chairman Chey's proposals, saying, "I will make efforts so that businesspeople do not feel they are suffering losses because of the government."

On the day, Chairman Chey met with candidate Yoon at the Seoul Chamber of Commerce building and delivered three suggestions. Chairman Chey said, "I ask for substantial investment in future industry infrastructure to create future growth potential," adding, "In this era of great transformation, if proactive investments are made in basic technology research, talent development, future infrastructure, social overhead capital, and workforce?areas difficult for individual companies to handle?it will serve as a foundation for creating future sources of income and boost growth." He also urged for "reform of outdated laws and systems," emphasizing that "the framework of regulations must be completely changed." Along with this, he requested consideration on how to enhance economic security capabilities.

Candidate Yoon, who listened attentively and even took notes, responded, "I believe that the private sector should be allowed to manage itself so that companies can create jobs through growth," and stated that growth will be achieved through regulatory reform. Chairman Chey had delivered similar proposals during a meeting with Lee Jae-myung, the Democratic Party presidential candidate, on the 10th of last month. At that time, candidate Lee expressed agreement with Chairman Chey's views, saying, "A shift to negative regulation is necessary."

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