Kim Moonsoo Meets Economic Leaders: "Korea Must Surpass Singapore in Competitiveness Through Corporate Tax Benefits"

"A Dedicated Office for Business Grievances Will Be Established in the Presidential Office"

Kim Moonsoo, the People Power Party candidate, emphasized on the 22nd that Korea must enhance its competitiveness beyond Singapore by providing tax benefits and other incentives to businesses during a meeting with the heads of the five major economic organizations.

On this day, Kim held a meeting with the five major economic organizations at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, and made these remarks.

Kim stated, "It is the president's duty to ensure that companies can freely conduct research, invest, and create many jobs," adding, "We need to create groundbreaking systems or policies that can even attract overseas companies to Korea."

To this end, he announced plans to establish a dedicated organization within the presidential office to handle various business-related grievances and to communicate intensively with companies.

Mentioning corporate tax cuts, Kim said, "Generally, countries offer tax breaks for about seven years, but I believe Korea must be at least more competitive than Singapore," adding, "We need to take bold action in many areas, including free trade." He stressed the need to provide a variety of tax incentives to attract more corporate factories and global company headquarters to Korea.

He also targeted Lee Jaemyung, the Democratic Party candidate. Kim criticized, "Claiming to revive the economy while worsening the business environment with excessively punitive laws like the Serious Accidents Punishment Act and the Yellow Envelope Act is a lie," adding, "It is also a challenge to resolve the situation where major leaders cannot speak out due to labor-management relations."

Attending the meeting were Choi Taewon, Chairman of the Korea Chamber of Commerce and Industry; Sohn Kyungshik, Chairman of the Korea Employers Federation; Ryu Jin, Chairman of the Federation of Korean Industries; Yoon Jinshik, Chairman of the Korea International Trade Association; and Choi Jinshik, Chairman of the Korea Federation of Middle Market Enterprises, as well as over 20 business leaders including Park Seunghee, President of Samsung Electronics; Lee Hyunghi, Chairman of the SK SUPEX Council Communication Committee; and Sung Kim, President of Hyundai Motor Company.