Final Remarks on Ministry of Justice, Fair Trade Commission, and Legislation Office Work Reports
Minister Han Dong-hoon Urges Legal Administration to Support the Economy
To Fair Trade Commission: "Economic Judicial Body, Predictability is Important"
[Asia Economy Reporter Ki-min Lee] On the 26th, President Yoon Suk-yeol urged, "Regulations that hinder our companies from competing overseas must be boldly changed to global standards."
President Yoon made these remarks during his closing statement at the New Year's work briefing of the Ministry of Justice, the Fair Trade Commission, and the Ministry of Government Legislation, held at the Blue House State Guest House. Kim Eun-hye, the chief spokesperson, conveyed this through a written briefing, stating, "In a trend where the free trade system is shaking and the world is becoming bloc-oriented over military and economic security, it is a difficult demand to expect even large companies to go out and compete in the international market on their own."
Since his presidential campaign and throughout various events after his inauguration, President Yoon has emphasized liberal democracy, human rights, and the rule of law. In his closing remarks at this work briefing, he also expressed a 'theory of freedom.'
President Yoon first said, "If I were to pick one keyword of the constitution, it would be 'freedom,'" adding, "Modern society proves how wide the gap is between societies that guarantee freedom and those that do not."
He continued, "In the past, freedom was a laissez-faire form where economic strong players could make money freely," adding, "Modern freedom has changed to an active freedom that requires state involvement, guaranteeing citizens the freedom to live without worry from bad environments such as sex crimes, the freedom of self-realization, and opportunities for culture and education."
President Yoon stated, "The coexistence method chosen to make this freedom sustainable within the community is 'fairness,' and the laws and norms derived from this fairness are realized as responsibility," adding, "The Fair Trade Commission and the Ministry of Justice and prosecution must become a national system that corrects rule violations that breach responsibility and protects a free market and fair order."
In this regard, he instructed Minister of Justice Han Dong-hoon to administer legal affairs that support the economy. President Yoon said, "The development of science and technology that expands freedom and enriches the world is difficult to achieve without international cooperation," adding, "Internationalization means aligning our system with global standards, and if not, investment becomes difficult."
He further stated, "Investment is about exporting corporate shares to diversify risks through portfolios and bringing in technology and information, so activating investment should be treated as importantly as corporate overseas expansion and exports," emphasizing, "Legal administration that supports the economy is the most important."
To Han Ki-jung, Chairman of the Fair Trade Commission, he said, "The Fair Trade Commission is not an economic ministry," emphasizing, "The most important thing is predictability. Predictability is what makes the market efficient and enables companies to work harder." He added, "Even during investigations, the Fair Trade Commission must become an economic judicial institution that makes the applied norms, periods, and levels of results predictable."
Earlier, in his opening remarks at the work briefing, President Yoon emphasized, "Companies gain more economic value by informing their vision and values to their surroundings, and the same applies to the nation," adding, "The vision and values of the Republic of Korea are contained in the constitution. The Ministry of Justice, the Fair Trade Commission, and the Ministry of Government Legislation are institutions that protect this constitution."
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