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Six economic organizations, including the Korean Employers Association, held an emergency meeting in the Seoul Economic Daily on the 7th to discuss countermeasures against the implementation of the “Third Law on Corporate Regulation” legislation. Participants such as Seo Seung-won, Vice President of the Federation of Small and Medium Enterprises (from left to right), Kim Yong-geun, Vice President of the General of Gyeonggi, Jeong Man-ki, President of the Industrial Development Forum, Ban Won-ik , vice president of the Korea Medium Enterprises Federation, Jung Woo-yong, vice president of the Korea Public Companies Association, and an executive vice president of the Korea Public Companies Association, and Kim Jong-the are the Executive Vice President of the Korea Listed Companies Association. / Reporter Kang Eun-gu [email protected]
In response to the application by the government and the ruling party of the ‘Third Law of Corporate Regulation’, the economic community decided to expand the front line through labor reform and strengthen joint responses between groups. It is analyzed that the economic community was exhausted by pressing for anti-trade policies that are fully regulated by both the Blue House and the party and the government. In the economic world, “No government in the past has had such a legislative dictatorship. Congestion in the ruling party is causing companies to crowd just before the test. “
The Korean Employers Association held a Presidents’ Council meeting on the 7th to prepare comprehensive proposals for more than 200 bills on corporate burdens and deliver them to the National Assembly this month, while gathering input to strengthen joint responses between economic organizations. Gyeong-sik Sohn, President of Kyung-Sik, stressed at the meeting that “industrial competitiveness is declining as the structure of high wages and low productivity has been fixed. At the meeting, the KCTU also discussed countermeasures against the amendment to the trade union law allowing layoffs to join the union, and the law related to the expansion of the collective action system and the punitive damage compensation system.
The business community also decided to respond jointly through the Economic Organization Council. The Council of Economic Organizations is a joint advisory body with general member organizations focused on five economic organizations (National Federation of Entrepreneurs, Korea Chamber of Commerce and Industry, Korea International Trade Association). An economics official said: “After the state administration ends, the Third Law of Corporate Regulation will be addressed immediately,” he said. “You can’t look at the situation where companies are being promoted as extremities.”
That day, a high-ranking Blue House official said, “Isn’t it enough to discuss it?” In relation to the Third Law of Corporate Regulation. Together with the leader of the Democratic Party, Lee Nak-yeon, announced the day before his opposition to the amendment of the labor reform law, as well as the demands of the economy to adjust the pace, and announced the implementation of the legislation.
The economic organizations held a separate emergency meeting that day to discuss ways to jointly respond to the 3rd Law of Corporate Regulation. The Gyeonggi General Federation of Small and Medium Enterprises, the Korean Federation of Medium Enterprises, and the Council of Korea Listed Enterprises, etc.
“The company is desperate, but is it time to push it to the limit?” The economy is angry with the runaway regulation law
Economic organizations respond jointly
The economic world is infested. The government and ruling party have drafted bills to incarcerate corporations and will pass them within this year. Criticism is heard that the government and ruling party have so far ignored corporate voices. A CEO of a medium-sized company noted that “the passport has completely closed the ears of corporate voices” and noted that it is “the worst legislative dictatorship in history.”
On the 7th, the Korean Employers Association held a meeting of the presidency at the Lotte Hotel in Sogong-dong, Seoul, and urged, “Please do not debate the bills that put a burden on companies.” Economic organizations, including Kyong-Chong, plan to submit comprehensive proposals on the corporate burden bill to the National Assembly this month. The presidency, including Kyungsik Son (center), who attended the meeting, is moving after taking pictures. / Reporter Kim Youngwoo [email protected]
Businessmen full of resentment
At a meeting of the Council of Presidents of the Korean Employers Association held at the Lotte Hotel in Sogong-dong, Seoul on the 7th, the government and the ruling party lobbied to amend the law. One participant criticized that “there is no policy that empowers companies and it is too difficult to administer because there is only one burden that is shed.” “There has never been such a strong anti-business sentiment.” Another participant said: “I wonder if the passport knows how much burden its legislation imposes on companies,” he said. “I am particularly concerned that SMEs and small businesses will be hit the hardest.”
Gyeong-sik Son, chairman of the Gyeonggi-General, agreed with the government, including △ Amendment to the Commercial Law that included separate election of audit committee members and a multiple representative litigation system, △ Amendment to the Fair Trade Law, which strengthens the regulation on the ownership of holding company subsidiaries, △ Promulgation of the Collective Procedure Law, △ Amendment to the Trade Union Law to join the union, which allowed. The problems of the legislation promoted by the ruling party were pointed out. Chairman Son brought up the case of the failure of the US hedge fund Elliott Management to include the person they recommended on the Hyundai Motors board of directors last year. Indicated. He urged: “It is time for companies to overcome the management crisis and strive to maintain employment.” Rather, he emphasized that it is time to implement policies that help business management, such as reducing corporate and inheritance taxes, and labor reform to improve productivity.
The voices of businessmen on the premise of anonymity were even louder. The CEO of one of the top 10 affiliates raised his voice and said: “I don’t know why the economy is going to choose and pass only the bills that appealed to me. The government and the ruling party don’t seem interested in the Survival and growth of companies Another executive of a large company criticized: “The passports seem to think that the complaints of economic organizations and companies are ‘heavy’.
Bae Sang-geun, executive director of the National Federation of Entrepreneurs, said: “The government and the ruling party are gathering opinions, but there is a high possibility that they will process the bill as it was originally intended.” did.
Joint response to economic organizations
As the government and the ruling party announced that they would push forward the handling of bills such as the amendment to the Commercial Law and the Fair Trade Law, there are voices in the economic world that the main economic groups should join forces. At the Gyeonggi General Presidency meeting, several attendees ordered: “Even if we cooperate with each other, we cannot adequately persuade the government and the ruling party because we all act lackluster. Major economic organizations such as the Federation of Trade Unions, the Federation of Korean Industries and the Korean Chamber of Commerce and Industry have individually opposed the amendment of the Trade Law and the Fair Trade Law.
However, it is known that recently, economic groups have started to discuss ways to make a voice over the government and the ruling party. This is due to the concern that individual responses like now cannot prevent the government and ruling party from falling into dictatorship. Economic organizations are also considering a proposal to issue a joint statement against the punitive damages system and the class action system. At an emergency meeting of economic organizations this afternoon, a joint response plan was discussed between the groups. The vice presidents of Gyeonggi General, the Federation of Small and Medium Enterprises, the Federation of Korean Medium Enterprises and the Korea Listed Companies Association gathered their views to give the legislature a voice on the six bills, including the Act Commercial and Fair Trade Law. Vice President Kim Yong-geun said, “It was the first meeting to jointly respond to laws that fundamentally restrict corporate activities. In addition to the organizations that will attend today’s meeting, we will also join the FKI and Korea Consultation. “.
Reporter Ilkyu Kim / Byeongwook Do / Soobin Lee [email protected]
