■President of the Korean Chamber of Commerce, the term ends in March next year… 7 years and 5 months of dismissal revealed
“The process of processing the National Assembly is very regrettable
A feeling of helplessness due to only a heavy burden on companies
Appeal to be supplemented with subordinate laws”
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“I felt helpless when I wasn’t doing laws to ease regulations, and when I was struggling with bills that burdened businesses. Looking back at the economy this year, I feel like I’m on a roller coaster.”
Park Yong-man (photo) Chairman of the Korea Chamber of Commerce and Industry announced on the 23rd at a year-end reporter meeting that the term of office was held for 7 years and 5 months. During his tenure, he hung up on deregulation for businesses, and he poured out his last bitterness about our economy.
Chairman Park expressed his greatest regret over the 3rd Law on Corporate Regulations that recently passed the National Assembly. He said, “In the case of the 3rd Corporate Regulation Act, I was very sad not only in the content but also in the process,” he said.
He said, “It will reflect the side effects expected by the National Assembly to some extent, and public hearings and debates were held, but the results of the legislation were not so,” he pointed out, “If we consider the majority of sincere companies, it will be over-legislated.”
He urged companies to take a preemptive response, but appealed again to the National Assembly to compensate for side effects as a sub-regulation.
Chairman Park predicted that the Korean economy will recover next year due to the impact of the underlying effect. However, he stressed that measures for major uncertainties such as △new coronavirus infection (Corona 19) vaccine △national debt ratio △private debt △asset market imbalance △political schedule are necessary to prevent the recovery from stopping in the short term. He said, “From a corporate standpoint, it is unlikely that the financial situation of companies will improve rapidly,” he said. “I think the government’s financial support, such as measures to stabilize corporate funds, should be maintained for a considerable period of time.”
He said, “The use of special measures, such as the Corporate Liquidity Support Organization (SPV) and the stabilization fund for the infrastructure industry, was not very high,” he said. “I hope that this will help us restructure more proactively.”
Chairman Park was most worried about the stamina of our economy. He said, “When the emergency and special measures taken to overcome the unprecedented situation of the Corona, there is a high possibility that aftereffects will remain,” he said. “With the current debt ratio is very high and the financial reserves are exhausted, the economy recovers. I’m worried about expectations alone.”
They also expressed their opinions on domestic social and international issues. Regarding the recent controversy over the spread of vaccines, he said, “it needs to be a little cool,” on the premise that he is a private opinion. Regarding the battery litigation battle between LG Chem and SK Innovation, which has not been concluded for the third year, “There were talks about arbitration, and there were a lot of talks, such as a large-scale resolution among the heads, but I think there is a need for an advanced look at companies.” It seems that it will be solved only when a conclusion by the law in any form is drawn.” He stressed that “politics and economy must be separated” regarding the relationship between Korea and Japan, where there is rarely an exit.
He predicted that after the inauguration of the US Joe Biden administration next year, the uncertainty in the US-ROK relations in the fields of military, diplomacy, and trade will be eliminated to a large extent. However, the Biden administration also predicted that the US-China dispute would likely continue. Chairman Park cited the most memorable thing this year for helping young entrepreneurs with the’private sandbox’. He said, “Since the Sandbox Support Center was launched a little over 200, I worked around 200 and resolved 84 cases,” he said. “If you line up the application documents, the distance from the National Assembly to the National Assembly is about 6.5 km, one application per day, and an average of 3 cases per week. I released it,” he said proudly.
Chairman Park, who has been leading the Korean Conference for 7 years and 5 months from August 2013, will end his term in March next year. In the business world, SK Group Chairman Choi Tae-won is mentioned as a prominent successor. On this day, Chairman Park was spared about his plans for the appointment of the next chairman. / Variable actor [email protected]
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