Six Major Economic Organizations Request Special Amnesty and Reinstatement for Businesspeople to Boost Economic Vitality

Announcement of Joint Appeal from the Business Community Requesting Special Pardon for Entrepreneurs

As the government is expected to announce a special pardon ahead of the Lunar New Year holiday on the 6th, the business community has appealed for the implementation of special pardons and reinstatements for businesspeople to promote national unity and boost economic vitality.

The six major economic organizations?the Korea Chamber of Commerce and Industry, the Korea Entrepreneurs Association, the Korea International Trade Association, the Korea Federation of Small and Medium Business, the Korea Employers Federation, and the Korea Federation of SMEs?issued a joint appeal titled "Joint Appeal from the Business Community Requesting Special Pardons for Businesspeople" on the 5th.

Son Kyung-sik, Chairman of the Korea Employers Federation, held a press conference with economic organization officials on November 13 last year at the Press Center in Jung-gu, Seoul, announcing a "Joint Statement Condemning the Deterioration of the Labor Union Act and Proposing the Exercise of Veto Power." From the left are Woo Tae-hee, Vice Chairman of the Korea Chamber of Commerce and Industry; Choi Jin-sik, Chairman of the Federation of Medium-Sized Enterprises; Chairman Son; Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business; Kim Chang-beom, Executive Vice Chairman of the Korea Economic Association; and Kim Go-hyun, Executive Director of the Korea International Trade Association. Photo by Kang Jin-hyung aymsdream@

The six economic organizations stated, "One month into 2024, our economy is showing some recovery in exports; however, investment and consumption, which are the sources of economic vitality, remain subdued. In particular, ongoing tensions between the U.S. and China continue to sustain a high level of external uncertainty."

They added, "In a situation where rapid industrial transformation is taking place due to the Fourth Industrial Revolution and carbon neutrality, our companies are striving to keep up in global competition. It is a very regrettable reality that some businesspeople, either following past practices or driven by the desire to save their companies, have disregarded the spirit of the law and committed violations, resulting in legal punishment and inability to return to management."

The six economic organizations emphasized, "While we believe that wrongdoings must be duly punished, considering the severe situation our economy faces, even one businessperson contributing their strength to revitalize the economy can be a path to repentance. We request the implementation of special pardons and reinstatements for businesspeople so that they can fully dedicate themselves to their crucial role in contributing to the national economy."

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