Revealed in the '2024 New Year's Address'
Jung Gu-yong, Chairman of the Korea Listed Companies Association, emphasized on the 28th in his 2024 New Year's address that "it is time to improve regulations to strengthen the global competitiveness of our companies active on the world stage."
Chairman Jung stated, "The government and the new National Assembly must strive to establish corporate-related systems that meet global standards to create an environment where our companies can generate growth engines," he said.
He added, "Major countries around the world are rushing to improve regulations to revitalize their stagnant economies," and "legislation that prioritizes tax benefits for domestic companies is spreading globally from the United States and Europe to Japan."
He also offered suggestions for companies to continue innovative and creative economic activities. He argued that it is most important to reorganize the legal system related to corporate taxes, labor regulations, and management rights defense measures to meet global standards, and to establish a negative regulation system that secures corporate autonomy.
Furthermore, he predicted that if active incentives and tax support are provided to companies focusing on Environmental, Social, and Governance (ESG) management, research and development (R&D), and new business development, companies will attract investment, create jobs, and become the forefront of a private-sector-led economy contributing to the national economy.
Chairman Jung emphasized, "The Listed Companies Association will do its best to continuously identify current issues for corporate deregulation and take the lead in supporting the improvement and establishment of rational systems to enhance corporate growth potential," adding, "We will do our utmost with the spirit of Eungbyeon Changsin (應變創新), which means responding and innovating, to proactively respond to and pioneer the changes of the next 50 years."
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