Jeong Cheongrae Meets Medium-Sized Business Leaders: "Will Closely Examine Requests on Tax System and More"

Jeong Attends Policy Meeting at the Korea Federation of Medium-Sized Enterprises

Jeong Cheongrae, leader of the Democratic Party of Korea, stated on the 31st to medium-sized business leaders, "We will closely examine the requests from the Korea Federation of Medium-Sized Enterprises to the Democratic Party regarding issues such as the tax system, labor market, advanced industry ecosystem, and the adjustment of the earned income tax base to reflect reality."

At the policy meeting held at the Korea Federation of Medium-Sized Enterprises in Mapo-gu, Seoul, Jeong said, "How our medium-sized enterprises can enhance their competitiveness amid the new international order is also a key concern for the Democratic Party."

He first emphasized, "Medium-sized enterprises are truly the backbone and pillar of Korea's industrial competitiveness," pledging, "Under the banner of 'Democratic Party for the Economy, Democratic Party for Security,' we will be strong supporters for the chairmen and CEOs."

He continued, "People say I am 'business-friendly.' I am indeed a very pro-business politician," adding, "I also promised the Korea Federation of Small and Medium Business and the Korea Chamber of Commerce and Industry to meet every three months. I will make sure to keep this promise."

Regarding the recent outlook by JP Morgan, a global investment bank in the United States, suggesting that the KOSPI could reach 6,000 points, he credited the efforts of medium-sized enterprises for making such a forecast possible.

Jeong Cheong-rae, leader of the Democratic Party of Korea, receives a policy briefing book from Choi Jin-sik, chairman of the Korea Federation of Medium-Sized Enterprises, at the Democratic Party of Korea-Korea Federation of Medium-Sized Enterprises policy meeting held on the 31st at the Sangjanghoesahwa Hall in Mapo-gu, Seoul. Photo by Yonhap News

Jeong stated, "I believe our medium-sized enterprises are facing many difficulties amid the spread of protectionism, technological hegemony competition, and supply chain instability," and added, "JP Morgan, for example, has presented an optimistic outlook, saying 'even 6,000 is possible.' Whether known or unknown, I believe this is the result of your sweat and tears, often in places that go unrecognized," expressing his gratitude.

He further explained, "We have concluded tariff and trade negotiations with the United States under the best possible conditions and also pledged to strengthen our technological and industrial alliance. I am very pleased that these efforts have helped alleviate the instability of the international trade environment and provided some breathing room for our companies."

Additionally, Jeong stressed, "I believe that joining hands with you and seeing you actively engage in economic activities with a smile is what will improve our country and bring happiness to our people. Politics is said to be about creating new paths where none exist. We will strive to pave the way even better."