[Moon 4th Anniversary Speech] Korea Employers Federation: "Shared Commitment to Overcome COVID-19 and Economic Recovery... Bold Regulatory Innovation Needed"

[Asia Economy Reporter Yu Je-hoon] The Korea Employers Federation (KEF) commented on June 10 regarding President Moon Jae-in's special speech on the 4th anniversary of his inauguration, stating, "National capabilities must be prioritized to enhance corporate vitality," and urged, "We ask for efforts to establish proactive and bold regulatory reforms and policy support."

KEF stated on the same day, "The business community actively agrees with the government's direction focusing on overcoming the COVID-19 crisis and economic recovery, and we hope that today's expression of the president's policy will to advance the economy will serve as a positive signal to stimulate economic vitality in the private sector."

KEF pointed out, "Recently, our economy has shown signs of recovery centered on exports, but the recovery of economic indicators related to livelihoods such as consumption and employment remains slow," adding, "Furthermore, intensified US-China conflicts and domestic risks such as household insolvency are also high concerns that may hinder economic recovery."

KEF continued, "For a definite economic rebound going forward, national capabilities must be prioritized to enhance corporate vitality based on the institutional foundation of strengthened employment and social safety nets," and urged, "To this end, proactive regulatory reforms and policy preparations must be made so that our companies can contribute to economic growth and play a leading role through job creation and investment activation."