Opposition Holds Forum with Hyundai Motor Following Samsung and LG... Addressing 'Democratic Party = Anti-Business' Misconception, Supporting Industrial Development

May 5 'Hyundai Motor Future Mobility Vision and Challenges' Opposition Lawmakers Meeting
"Owing Much to Chung Ju-yung"
"Democrats Study Global Competitive Companies with Open Attitude... Support in National Assembly"

On the 5th, the Democratic Party of Korea held a forum to discuss support measures for fostering future industries together with Hyundai Motor, following Samsung and LG. Although the Democratic Party has shown a critical stance toward large corporations in the past, voices calling to "change the perspective on companies" have emerged within party gatherings, drawing attention.

[Image source=Yonhap News]

On this day, the 'Parliamentary Group for Strengthening Global Corporate Competitiveness,' composed of Democratic Party lawmakers, held a discussion at the National Assembly on the theme of 'Hyundai Motor's Future Mobility Vision and Challenges,' and deliberated on support measures for the growth of automobile companies. In June, they held a seminar evaluating the positive aspects of Samsung Group's 'owner management' and called for a shift toward a pro-business stance. Last month, they also discussed the future of the battery industry together with LG Energy Solution.

Lee Byung-hoon, the lawmaker who hosted the forum, said, "Many people misunderstand that the Democratic Party has an anti-business tendency, but that is not true. Many lawmakers share the view on how to enhance the competitiveness of global companies that contribute to the national economy."

On this day, Lee praised Chung Ju-yung, the founder of Hyundai Motor Group. He said, "Our people owe a lot to the late Chairman Chung Ju-yung. We express our gratitude and respect to Chairman Chung, who achieved the feat of manufacturing automobiles and ships in a barren land." He added, "We will learn from and reflect on the proposals made today regarding bold regulatory improvements and the legal and institutional parts necessary for proactive infrastructure technology development so that Hyundai Motor can stand taller as a global company."

Kim Byung-wook, co-representative of the group, said, "Although it is embarrassing to hear that this is a study group unlike the Democratic Party, many lawmakers agree with the idea that we need to view companies not based on prejudices rooted in past mistakes but as agents of positive change opening a new future." He continued, "Whether conglomerates, large corporations, or small and medium enterprises, companies that work hard with technology for the national interest should be supported by the political sphere. In that regard, I believe the National Assembly should approach this with an open mind."

Kim said, "The debate over being pro-business or anti-business has become meaningless in this era," adding, "In capitalism, all production is centered on companies, and good jobs are created. The political sphere and government should implement policies supporting companies. I believe the Democratic Party should also join in that path." He further said, "I hope this will be a time to think about how Hyundai Motor is preparing in areas such as autonomous driving and the robotics industry, which are core to future mobility, and how the National Assembly can support them in the process."

Lawmaker Ahn Kyu-baek also said on the day, "I hope Hyundai Motor becomes an even more global company based on planning ability, drive, and imagination," adding, "In fact, politics is about livelihood issues, and the ruling and opposition parties cannot be apart when it comes to the people's economy. If good policy alternatives come out through today's seminar, we will actively participate."

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