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President Lee Myung-bak on Monday pledged to ease regulations on corporate activities by the end of the year once the 18th National Assembly starts next month. In a meeting with big business leaders and economic ministers to discuss various ways to promote economy and create more jobs, Lee said the purpose of the meeting was to talk not only about the collective hardships that all companies face but also to hear and find solutions to difficulties that each firm is going through, Cheong Wa Dae spokesman Lee Dong-kwan said.
Lee told the business leaders not to hesitate to bring up specific cases their companies are going through. ¡°As we agreed to meet once every quarter, I will be able to give definite answers to specific requests next time we meet,¡± he promised. Some of the specific complaints that were brought up on Monday were regulations that hamper the construction of LG Display¡¯s Paju plant, Samsung Electronics LCD production line in Giheung complex, and amusement park Lotte World II.
On easing regulations on corporate activities, Lee said, ¡°About 50 to 60 percent of the necessary work lies in amending relevant laws and this will take some time, but the rest of the work can be done quickly by the government as all that needs to be done is to change government guidelines or enforcement ordinances,¡± which are not subject to parliamentary approval. ¡°This will not be enough at first, but many of the problems will improve considerably after a year,¡± Lee continued. He promised the government will actively help solve problems that companies confront, and called for businesses to operate aggressively in times of economic recession.
Cho Suck-rai, chairman of the Federation of Korean Industries, said companies are investing 23 percent more than last year, spending W92.8 trillion on investment. Also, recruitment by big companies will go up by 18.3 percent this year. Samsung Life chairman Lee Soo-bin, who was present on behalf of Lee Kun-hee who recently resigned as the head of the Samsung Group, said Samsung is investing W27.8 trillion, up 24 percent from last year, and recruiting 20,500 new employees, 4,500 more than last year. Hyundai Automotive Group chairman Chung Mong-koo said his company is committing W7 trillion to investment and hiring 4,300 new workers, and LG Group chairman Koo Bon-moo revealed his plan to invest W11.2 trillion and employ 6,300 new staff.
SK Group chairman Chey Tae-won called for an end to regulations against integration of telecommunication fields, and Lee Soo-bin asked the government to help fight anti-corporate sentiment. Yoo Chang-moo, vice chairman of the Korea International Trade Association, called for introduction of daylight saving time to save energy.
Apart from easing various regulations, the government also said it will lower hurdles for local students who want to attend foreign schools in Korea, cut taxes for golf clubs in the provinces, and devise laws that support sea leisure businesses such as cruises.
(englishnews@chosun.com )
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