Minister Kim Jeong-gwan Meets with Economic Organizations "Establishing Corporate Environment Team for Dedicated Response to Business Issues"

[Financial News] The government has embarked on full-fledged follow-up measures to minimize corporate burdens and strengthen export and investment support following the conclusion of the Korea-US tariff negotiations. The Ministry of Trade, Industry and Energy plans to gather opinions by industry and prepare tailored support measures, while strengthening the public-private cooperation system in response to changes in the external trade environment. Additionally, a 'Corporate Environment Team' has been established to minimize corporate burdens due to amendments to the Labor Union Act and the Commercial Act. 
 On the 4th, Minister Kim Jeong-gwan of the Ministry of Industry held a 'US Trade Strategy Roundtable' at the Seoul Chamber of Commerce and Industry to discuss response measures after the conclusion of negotiations with economic organizations, major industry associations, and academia representatives.
 Minister Kim stated, "The conclusion of the Korea-US tariff negotiations has resolved the short-term export uncertainties for our companies and secured competitive conditions that are not disadvantageous compared to major countries," adding, "We will strengthen cooperation with the US in strategic industries such as shipbuilding, automobiles, semiconductors, and biotechnology, and utilize this conclusion as an opportunity to enter new markets."
 He continued, "We will prepare various follow-up measures such as resolving export difficulties due to tariff measures, entering alternative markets, and providing tax and financial support," emphasizing, "In the mid to long term, we will pursue strategies to overwhelmingly enhance the fundamental competitiveness of our industries."
 Economic organizations and industry representatives at the meeting proposed △tailored support for vulnerable industries △the need to operate a US investment package based on corporate demand, urging the government to play an active role.
 In addition, Minister Kim visited the Korea Chamber of Commerce and Industry, the Korea Employers Federation (KEF), and others, expressing gratitude to the economic community for their full support even in urgent negotiations pressed by deadlines, stating, "We will make every effort to alleviate tariff burdens and secure the US market."
 Regarding the Labor Union Act and Commercial Act amendments pending before the National Assembly plenary session, he explained, "Although it may be a burden on companies in the short term, in the long term, it will be an opportunity to establish a win-win labor-management culture and restore trust in the capital market," adding, "We will fully reflect industry opinions in future discussions on revising enforcement decrees and operating a task force to ease economic penalties."
 To support this, the Ministry of Industry plans to establish and operate a 'Corporate Environment Team' dedicated to major economic issues.
 Meanwhile, regarding the frequent safety accidents occurring in industrial sites recently, Minister Kim stated, "There are limits to response focused on punishment," adding, "We will reorganize the system and institutions so that companies can voluntarily invest in safety."

aber@fnnews.com Park Ji-young Reporter