President Park Geun-hye Has Luncheon Meeting with Heads of 10 Major Business Groups

At 11:45am on August 28, the heads of 10 major business groups like Samsung Group Chairman Lee Kun-hee and Hyundai Motor chairman Chung Mong-koo showed up at the presidential residence, Cheongwadae, to meet with President Park Geun-hye. 

Chairman Lee, the first one in line, was helped to the office by his entourage, as he was just discharged from the hospital. It is said that he, despite his physical condition, participated in the meeting to deliver the message that the revision of the Commercial Act currently discussed in the political community and the economic democratization drive as of late could be a threat to investment in, and day-to-day business activities of, big businesses. 

Deputy Prime Minister Hyun Oh-seok shook hands with the visitors in turn. “I appreciate your efforts for economic policy establishment in these hard times,” they said. The Deputy Prime Minister replied by saying, “Please assume a leading role in the revitalization of the national economy so we can beat the challenge.”

The luncheon meeting was joined by the Deputy Prime Minister; Minister of Science, ICT and Future Planning Choi Moon-ki; Minister of Trade, Industry, and Energy Yoon Sang-jik; the President’s Chief Secretary Kim Ki-choon; Advisor to the President on Economic Affairs Jo Won-dong; Senior Secretary for Future Strategy Yoon Chang-beon, and others. This was the first time President Park met with corporate heads in her office, though she talked with them during her visit to the United States and China in May and June of this year. 

It was job creation and investment expansion for economic invigoration that the President talked about first in the meeting. The chairmen nodded their heads, expressing their sympathy. She continued to say that she was opposed to excessive economic democratization and showed her will to modify the amendment. She listened attentively to what they mentioned and took notes of what they said, too. 

Huh Chang-soo, chairman of the Federation of Korean Industries, answered her by calling for more investment, announcing the 30 major groups’ investment and employment data for the first half of 2013 and the plan for the second half. Korea Chamber of Commerce & Industry Chairman Park Yong-man proposed a toast for a better future. At around 1:30pm, after they enjoyed Korean dishes and grape juice, the President herself saw the visitors to the porch.