Huh Chang-soo, Former Chairman of the Federation of Korean Industries, Says "Ministry of the Interior and Safety Should Act as Control Tower for Local Regulation Innovation"

'Minister Lee Sang-min's Invitation to Business Meeting' Held
Minister Lee Sang-min: "We Will Strive to Create Good Jobs for Local Companies"

Huh Chang-soo, Chairman of the Federation of Korean Industries.
Photo by Asia Economy DB

[Asia Economy Reporter Han Yeju] Huh Chang-soo, chairman of the Federation of Korean Industries (FKI), requested the Ministry of the Interior and Safety (MOIS) to serve as a control tower for local regulatory innovation.

The FKI held a "Business Meeting with Minister Lee Sang-min of MOIS" at the FKI Conference Center on the 13th.

This meeting was arranged at the request of Minister Lee Sang-min, where the minister personally met with business leaders to discuss regulatory reform tasks necessary for balanced national development and revitalization of local economies.

In his welcoming remarks, FKI Chairman Huh Chang-soo said, "Companies find it difficult to readily establish business sites in local areas with only indirect support measures such as tax reductions or subsidies," adding, "Moreover, local government ordinances, shadow regulations, and especially various uncertainties created by regional sentiments?'invisible regulations'?are hindering local investment."

Chairman Huh emphasized, "In the era of the global economy, as many overseas cities compete to attract our companies by offering various incentives, groundbreaking inducements must be prepared for our regional economies to revive," and urged, "We ask MOIS to play the role of a control tower for local regulatory innovation."

Minister Lee Sang-min stated, "To prevent local extinction and establish a foundation for autonomous regional growth, good jobs in local companies must be continuously created," and pledged, "We will do our best to reflect the opinions of business leaders from today's meeting in government policies."

Attendees at the meeting included key FKI member company executives such as Son Jae-il, president of Hanwha Defense; Ko Soo-chan, vice president of Lotte Holdings; Cho Young-seok, vice president of CJ CheilJedang; Lee Byung-man, vice president of Yuhan Corporation; Yeo Eun-joo, vice president of GS Sports; Kim Sung-tae, director of Doosan Management Research Institute; and Yoon Seok-hwan, director of Samyang Holdings.

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