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Business lobby seeks to meet with Moon over job creation, economic stimulus

All News 15:03 July 10, 2017

SEOUL, July 10 (Yonhap) -- The head of South Korea's major business lobby said Monday he will soon ask President Moon Jae-in to meet with leaders of the country's big businesses to discuss ways to create new jobs and prop up the economy.

The Moon administration is seeking to sharply raise the minimum wage with the aim of addressing income disparities and boosting economic growth through job creation and increased household revenue.

Speaking to reporters, Park Yong-man, chairman of the Korea Chamber of Commerce & Industry (KCCI), said he will also seek a separate meeting between Moon and businessmen of small and medium-sized firms.

"I will formally ask President Moon to have a meeting with business leaders as he expressed an intention to do so while in the U.S.," Park said.

More than 50 South Korean business leaders accompanied Moon on his U.S. trip and attended the Korea-U.S. Business Summit in Washington D.C.

Among them are Park, Samsung Electronics Co. Vice Chairman Kwon Oh-hyun, SK Group Chairman Chey Tae-won and Hyundai Motor Vice Chairman Chung Eui-sun.

While in the U.S. capital, Moon briefly met with the South Korean businessmen.

A breakfast meeting has been scheduled for the leaders of the 15 largest business groups of the country Tuesday, Park said, noting that participants will likely discuss the economic policies of the Moon administration and the role of big businesses.

"We are seeking a consensus with each business group and companies needing to do what they can on a voluntary basis in accordance with their own circumstances during tomorrow's meeting," he said.


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