[New Year's Address] Yang Jinseok, Chairman of Gwangju Employers Federation

"Overcoming Economic Crisis... Business Leaders Urged to Invest Actively"

Jinseok Yang, Chairman of Gwangju Federation of Employers

Dear businesspeople of Gwangju and Jeonnam, and fellow citizens, the new year of Eulsa has dawned.

I wish health and happiness to all your families this year, and hope that everything you plan goes smoothly.

Looking back, 2024 was truly a year full of ups and downs.

The global economic downturn, sluggish domestic demand, and the political turmoil triggered by martial law and the impeachment crisis heightened economic uncertainty. The Jeju Air passenger plane accident at the end of the year was a tragic event that brought grief not only to the local community but to the entire nation.

This year, we continue to face difficult circumstances both economically and socially, at home and abroad.

High exchange rates, rising raw material prices, and the strengthening of protectionism during the second Trump administration will place a heavy burden on the trade environment and greatly affect the industries of Gwangju and Jeonnam, which rely on exports and imports.

If all members of the region unite their strength and faithfully fulfill their respective roles, we can surely overcome this crisis and create a better future.

This year, the Gwangju Employers Federation will closely communicate with companies at industrial sites and further expand cooperation with labor groups. We will also do our utmost as an economic organization to ensure that companies can focus on stable investment and business activities.

Respected businesspeople and leaders!

Active investment by entrepreneurs is more important than ever to overcome the economic crisis. For this, full support from local governments, the central government, and the National Assembly must come first.

First, we need to improve outdated rules and systems to enhance corporate competitiveness and dynamism, and create an environment conducive to investment.

We must also revitalize our rigid labor market. Above all, expanding flexibility in the working hours system and reforming the wage structure are urgent tasks.

We need to move away from uniform regulations based on the quantity of working hours, broadly guarantee workers' rights of choice, and improve the system so it can be operated flexibly according to the nature of each job.

In addition, to enhance the international competitiveness of our labor-management relations and minimize confusion at industrial sites, we must expedite amendments to labor-related laws and systems, such as allowing alternative labor and prohibiting workplace occupation.

Finally, we must innovate regulations that excessively restrict business activities and create a business-friendly environment. High corporate and inheritance taxes not only discourage investment but also lead to fewer jobs for young people.

This year, I hope bold tax reforms and active corporate support measures will be implemented so that our companies can be free from tax burdens, make more investments, and create more jobs.

Dear citizens!

Although these are difficult times, if the local community and the entire nation unite their strength and wisdom, we can surely overcome them. Our brilliant history, overcoming countless hardships and achieving repeated growth and development, proves this.

I hope that, by gathering the wisdom and insight symbolized by the spirit of the Blue Snake, we can overcome the current crisis and make this a year of dynamic progress.