Yoon Hee-sook: "Let's Discuss the Fair Economy 3 Laws Based on Evidence, Not 'Dabjeongneo'"

[Asia Economy Reporter Lee Ji-eun] Yoon Hee-sook, a member of the People Power Party, emphasized the need for cautious discussion regarding the 'Fair Economy 3 Laws,' stating that "discussions must be based on empirical evidence."

On the 24th, Yoon said on Facebook, "In the rapidly changing economic situation, it is essential to present evidence that these claims are still valid for the amendment discussions."

She stated, "I actively support the intention to correct distortions in market competition and trading practices caused by the logic of power, such as company size and the influence of the controlling family," but also pointed out, "on the other hand, the concerns of the business community that corporate management activities are seriously hindered are also important considerations."

Yoon said, "The concerning point is that discussions are not based on empirical evidence," explaining, "For example, dismissing the business community's concerns lightly as 'exaggeration' or arguing that the contents of the amendment are not new claims but issues that both ruling and opposition parties have discussed before is meaningless."

She criticized, "While the business community creates data on major issues to express concerns about the market impact, the government and ruling party that drafted the amendment maintain a high-handed attitude by not presenting evidence that the provisions on major issues are still necessary even after reviewing these concerns," calling it "a predetermined answer situation (the answer is fixed, and you just have to respond)."

Yoon pointed out, "Concerns about excessive exposure to lawsuits and management rights attacks upon the introduction of derivative lawsuits are more worrisome for mid-sized companies than the conglomerates targeted by the law," and criticized, "Despite companies' fears that the separate election of audit committee members will expose the most confidential information and be used for management rights attacks, no evidence has been submitted to prove otherwise."

Yoon also highlighted that the most urgent labor market reform to pursue fairness has not been achieved. She said, "The area where the value of fairness is most trampled in our society is the job opportunities for our youth," and criticized, "Although the shortage of jobs for young people has worsened for some time, the government, which claims to uphold fairness, has taken no measures other than creating short-term part-time jobs through fiscal spending."

She added, "It has long been since the pledge to reform the public sector wage system, which can be considered the start of reform, was quietly abandoned," and added, "Obsessing only over corporate-related legal amendments with unclear expected effects makes it difficult to trust that these efforts are truly aimed at pursuing fairness."