Blue House postpones senior aides' meeting... discussion on 'using excess profits' led by Lee delayed

[Financial News] The Blue House has decided not to hold the senior aides' meeting scheduled for the 20th, which was to be chaired by President Lee Jae Myung. The meeting had been expected to discuss ways to socially distribute corporate excess profits, but officials said the decision reflected the view that more discussion and broader public debate were needed on the issue.
According to Blue House officials on the day, the senior aides' meeting is normally held on Thursdays as a regular session, but this week Monday was considered because of the real estate forum schedule.
During that process, the social distribution of corporate excess profits was raised as a possible agenda item. However, internal discussions reportedly led to the view that the matter should be watched further through talks among ministries and the business community rather than being taken up immediately at a presidential meeting.
The explanation was that the issue has already been discussed by related ministries, including the Ministry of Employment and Labor (MOEL) and the Ministry of Trade, Industry and Energy (MOTIE), while the business community is also debating profit-sharing measures. As a result, more social consensus-building was deemed necessary.
The cancellation was reportedly finalized by Kang Hoon-sik, Chief of Staff to the President of the Republic of Korea, after he accepted those internal discussions. However, because the senior aides' meeting had not been officially announced to the public, the Blue House did not issue a separate formal cancellation notice.
When asked whether the cancellation was related to the recent downturn in the stock market, a Blue House official denied any connection. Earlier, some observers had suggested that if discussions on the social distribution of corporate excess profits were interpreted as a signal of heavier corporate burdens, they could weigh on the market.
It has not yet been decided whether the issue of socially distributing corporate excess profits, which had been on the agenda, will be discussed again at the next senior aides' meeting. Officials said the item had only been reviewed at the idea stage and then naturally disappeared once the meeting itself was canceled, adding that whether it will be taken up next time is a separate matter.
[email protected] Sung Seok-woo Reporter