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Samsung Group chairman Lee Kun-hee said on Wednesday that aggressively easing regulations would help Korea join the ranks of advanced countries more rapidly. The executive made the remarks to reporters before attending a meeting to stimulate cooperation between large corporations and small-and medium-sized businesses, which was presided over by President Roh Moo-hyun at Cheong Wa Dae.
When asked what Korea's top priority should be for the economy, Lee said human resources development, R&D and deregulation. He said the examples of deregulation in developed countries should be a "textbook" for Korea in aggressive deregulation, though he did not elaborate on what he meant by "aggressive deregulation."
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Samsung Group Chairman Lee Kun-hee (right) and Hyundai Kia Automotive Group Chairman Chung Mong-koo greet at a meeting to encourage cooperation between large enterprises and small and medium businesses at Cheong Wa Dae on Wednesday.
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With a faster pace of deregulation, Lee said he expects Korea will achieve average per-capita income of US$30,000 in the future, although it has yet to reach the $20,000 point yet.
He predicted that the business environment would not be bad in the second half of the year, expecting his group to accomplish its business goals as planned, although the semiconductor sector is flat.
As for the inter-Korean summit slated for early October, Lee said the future of the nation and the Korean Peninsula is staked on the event, but inter-Korean relations should not be thought of as a business project.
(englishnews@chosun.com )
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