Ryu Jin, Chairman of Hankyung Association, "Proposing Economic Policy Alternatives"... Expected Role in Inheritance Tax Reform

16th Hankyunghyeop '63rd Regular General Meeting'
Announcement of 5 Major Focus Projects
Attention on Legislative and Policy Roles for Inheritance Tax and Management Rights

Ryu Jin, Chairman of the Korea Economic Association (KEA), announced the '5 Key Focus Areas' at the 63rd General Assembly held by KEA on the 16th, stating that KEA will take the lead in presenting policy alternatives. The business community expects KEA to serve as a channel in the legislative and policy-making processes related to defending management rights, such as the reform of inheritance tax.

On the same day, KEA held its 63rd General Assembly at the FKI Tower in Yeouido, Yeongdeungpo-gu, Seoul, with Chairman Ryu, Honorary Chairman Lee Woong-yeol of Kolon Group, Chairman Lee Hee-beom of Booyoung Group, Chairman Woo Oh-hyun of SM Group, and other member company representatives in attendance, where they announced the five key focus areas for this year.

At the assembly, KEA selected five major themes for this year's focus areas: advancement of laws and systems, strengthening member services, enhancing global cooperation, spreading entrepreneurial spirit, and securing sustainable growth engines.

In his opening remarks, Chairman Ryu said, "Although many forecasts predict difficulties for the domestic and international economy this year, it is precisely at times like these that the role of our businesspeople is crucial," adding, "KEA will also work hard to propose visions and alternatives for economic and industrial policies to promote structural reform of our economy and the leap forward of the Republic of Korea."

Ryu Jin, Chairman of the Korea Economic Federation.
Photo by Hankyungyeop

The business community is paying particular attention to the advancement of laws and systems among KEA's five key focus areas. Specifically, they focus on 'responding to anti-market pledges' and 'proposing legislation reflecting the opinions of the business community.'

In particular, there are high expectations for KEA to support the reflection of business community opinions in the legislative and policy-making processes related to laws and policies directly connected to management rights, such as the Fair Trade Act and tax laws (inheritance tax).

Since labor issues are led by the Korea Employers Federation and small business matters by the Korea Chamber of Commerce and Industry, there is a growing call for KEA's support in the legislative and policy-making processes related to laws defending management rights, including the Fair Trade Act, tax laws, and commercial laws.

Chairman Ryu also stated, "We will not only communicate closely with member companies but also further strengthen member service functions to enhance member satisfaction."

KEA, branding itself as a 'Korean-style Heritage Foundation,' absorbed the Korea Economic Research Institute under its umbrella last August. At the end of December last year, it announced an organizational restructuring and appointed Jeong Cheol, former Head of External Cooperation at the Korea Institute for International Economic Policy, as the head of the Korea Economic Research Institute.

Accordingly, KEA plans to expand member services such as the KEA Newsletter, KEA Global Brief, Environmental, Social, and Governance (ESG) Bulletin, and FKI Magazine. It also plans to enhance educational service benefits and increase participation in various events.

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