"Most Countries Face Similar Complaints About Unreasonable Regulations from Companies"
South Korea-U.S.-Japan Cooperation System Activated... "Bigger Markets Are Opening and Opportunities Are Coming"
President Yoon Suk-yeol instructed ministers of each department on the 12th to "create a checklist of current corporate issues and boldly assist, and clearly inform them when something is not possible." The intention is to closely monitor corporate difficulties such as deregulation and provide tailored support by each ministry.
President Yoon made these remarks during his closing statement at the Cabinet meeting held at the Yongsan Presidential Office that morning, saying, "Over the past 1 year and 4 months of overseas visits, the focus of diplomacy has been on the economy," according to spokesperson Lee Do-woon’s briefing.
In particular, President Yoon explained, "It is common for most countries that companies complain about unreasonable regulations," adding, "Before bilateral talks abroad, I held meetings with businesspeople to hear their difficulties, and then persuaded foreign leaders by asking, 'Why impose regulations that are not beneficial?' In response, those leaders sometimes instructed their attending economic ministers to make improvements." Earlier, on the 10th (local time), before his summit with Indian Prime Minister Narendra Modi, President Yoon met with businesspeople from companies entering India such as Samsung Electronics, Hyundai Motor Company, and Hyosung to listen to their difficulties and stated, "I will request Prime Minister Modi to take improvement measures."
Last month, President Yoon also expressed his intention to expand the economic cooperation base among the three countries of Korea, the United States, and Japan in line with the Camp David summit. He elaborated, "As the Camp David trilateral cooperation system begins to operate, barriers are being broken down even in advanced fields, opening up a larger market and greater opportunities for us," and added, "With the Korea-US-Japan joint cooperation system, we can expand our role in the Indo-Pacific region."
Before attending the Cabinet meeting, President Yoon saw news on the elevator monitor in the government building about "the activation of secondhand goods transactions ahead of Chuseok," and also made a request regarding Chuseok price management. He said, "Please manage Chuseok prices well so that the public does not worry," adding, "If Chuseok prices are well managed, concerns about prices and purchasing power shrinkage can be alleviated until the end of the year."
Meanwhile, at the Cabinet meeting that day, President Yoon instructed the establishment of various communication and consultation channels for emerging strategic markets, saying, "Our country must roam overseas markets like our own home to invigorate the economy and create jobs." He ordered practical follow-up measures in economic cooperation based on the ASEAN and G20 summits held last week, promising, "During my term, I will meet with the leaders of all countries where Korean citizens and companies have entered and support the people and businesses."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
