KCCI "Welcomes New Government's Economic Policy... Focus on Expanding Investment and Jobs"

by Sung Kiho

Published 16 Jun.2022 14:34(KST)

Chairman Son Kyung-sik of the Korea Employers Federation./Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Kiho Sung] The Korea Employers Federation (KEF) stated on the 16th regarding the announcement of the new Yoon Seok-yeol administration's economic policy direction, "We expect it will also help improve the business environment for companies struggling with rising raw material prices and high inflation."

In a statement released that day, KEF said, "The 'New Government Economic Policy Direction' announced today aims to enhance the vitality of the private economy and improve the economic structure through deregulation and fostering advanced industries."

It added, "We hope the government will pursue policy tasks such as regulatory reform, labor reform, and tax system improvement with strong determination and speed to overcome the current complex economic crisis early and increase the economy's growth potential."

KEF also stated, "Going forward, our business community will continuously communicate and cooperate with the government to ensure that active investment and job creation by companies in response to these policy changes spread throughout the industry."