Meeting with the Chairman of the Federation of Korean Industries, Sim Sang-jung: "Misunderstandings about Anti-Business and Market... United for National-Level Green Transition"

Chairman Chey Tae-won of the Korea Chamber of Commerce and Industry Holds Meeting with Sim Sang-jung, Justice Party Candidate

Sim Sang-jung, the Justice Party candidate (left in the photo), and Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry, are taking a commemorative photo before a meeting at the Chamber of Commerce building on the 19th.

[Asia Economy Reporter Choi Dae-yeol] Sim Sang-jung, the presidential candidate of the Justice Party, said on the 19th, "Some businesspeople think of Sim Sang-jung as anti-business and anti-market, but that is a misunderstanding," adding, "I have never thought that regulation or penalties are the entirety of corporate policy, and I believe that innovation is only possible when there are vibrant private companies."

On the same day, Sim made these remarks during a meeting with Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI), at the Chamber of Commerce building. He said, "I think companies are organizations that contribute to our society by generating profits," and added, "What I have opposed so far are monopolies, collusion, and power abuse, which pursue profits outside of democracy."

The KCCI is meeting directly with major presidential candidates to exchange opinions on economic issues as part of policy proposals. Previously, they also held meetings with Lee Jae-myung of the Democratic Party and Yoon Seok-youl of the People Power Party. Chairman Choi said, "Given the current times, we have been receiving many proposals recently," and added, "We hope that the proposed contents will be reflected in policies and we are also providing our opinions." Sim said, "Chairman Choi has a strong commitment to ESG (Environmental, Social, and Governance) management, so I expect he might be the chairman who understands me best."

Sim emphasized that it is absolutely necessary to firmly punish companies that have done wrong for the sake of the market economy. He said, "In the era of advanced economies, corporate activities value life, safety, environment, and diversity," and added, "It is time to shake off the stigma of being a 'kingdom of industrial accidents' and boldly break away from the practice of 'people might die while doing business'."

Sim Sang-jung, the Justice Party candidate (left in the photo), and Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry, are talking before a meeting at the Chamber of Commerce building on the 19th.

Referring to the apartment construction site collapse accident in Gwangju, he said, "Companies like Hyundai Development Company, which cause the same disaster every six months, must be severely punished." He said, "At the time of the Seongsu Bridge and Sampoong Department Store collapse accidents, it was the era of $10,000 income, but now it is the $30,000 income era," adding, "It was unfair to companies that complied with the law." He emphasized that Hyundai Development Company's license should be revoked and added, "Severe punishment is the way to establish market justice and open the future of corporate management."

Sim conveyed that the price linkage system for delivery unit prices demanded by small and medium-sized enterprises should be accepted proactively. He said, "Raw material prices are rising, but nearly half of small and medium-sized enterprises complain that it is not reflected in delivery unit prices," and added, "While operating a delivery unit price negotiation and adjustment body, the small and medium-sized enterprise sector is demanding a price linkage system, and I hope the Chamber of Commerce would give a strong warning."

They spoke with one voice about the transition to eco-friendly businesses. Sim said, "The transition to decarbonization is not a cost but a matter of survival and competitiveness," and added, "I proposed to respond more actively and faster than other presidential candidates to reach the international standard targets by 2030." He emphasized the need to increase the national research and development support budget by about three times the current level to accelerate the transition. Chairman Choi said, "ESG is a global trend," and added, "If it is not properly implemented internationally, investors will withdraw their investments, so the Chamber of Commerce intends to help companies prepare well and establish ESG."

On the 19th, at the Korea Chamber of Commerce and Industry-Justice Party presidential candidate meeting, candidate Sim Sang-jung (left) and Chairman Chey Tae-won are moving to the reception room, the meeting venue.

Regarding the four-day workweek, which is also the Justice Party's first pledge, Sim said, "It is not simply proposed as a reduction of working hours but is important as a means of social innovation to increase productivity and achieve a better life," and added, "I hope the Chamber of Commerce actively considers it." Chairman Choi mentioned that some affiliates of the SK Group, where he is involved, are applying it according to their conditions, saying, "It cannot be uniformly enforced, and there are differences among each affiliate."

Sim also emphasized that regulations that hinder innovation and maintain vested interests of some should be boldly abolished. However, he believed that along with easing preemptive regulations, strong post-responsibility measures should also be enforced.

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