Foreign Chambers of Commerce in Korea Form TF with Trade Ministry
"French Companies in Korea Deeply Concerned About Labor-Management Conflicts"
The French Chamber of Commerce in Korea has joined forces with the Korean government to address labor-management conflicts, one of the key management challenges faced by French companies operating in Korea. It has also submitted a set of recommendations that reflect companies' concerns and requests regarding the so-called "Yellow Envelope Act," an amendment to the Labor Law that will take effect from next month.
Jallikong Davidpierre, President of the French Chamber of Commerce in Korea, is speaking at a press conference on the "Study Report on France's Economic Influence in Korea" held at the French Embassy in Seodaemun-gu, Seoul, on the morning of the 25th. Photo by Sim Seonga
At a press conference for the "Study Report on France's Economic Influence in Korea," held on the morning of the 25th at the French Embassy in Seodaemun-gu, Seoul, the French Chamber of Commerce in Korea and the Embassy called for improvements to the regulatory environment faced by French companies in Korea.
On this day, David-Pierre Jallicon, chairman of the French Chamber of Commerce in Korea, said, "To resolve labor-management conflicts that foreign companies experience in Korea, the Chamber of Commerce recently formed a task force (TF) with the Ministry of Trade, Industry and Energy," adding, "Officials from the Ministry of Employment and Labor are also taking part."
He continued, "The five major foreign chambers of commerce in Korea were invited together to consult with senior government officials, and we also submitted recommendations to the government," and added, "Through these recommendations, we highlighted, from an investor's perspective, how law enforcement could affect corporate activities, and we requested a gradual application of regulations and the minimization of any conflicts or misunderstandings in the interpretation of the law." Jallicon also said, "President Lee Jaemyung, whom I met last month, was aware that Korea is a highly regulated market in which to do business, and I discussed with him the need for deregulation."
Lee Joon, vice chairman and honorary chairman of the French Chamber of Commerce in Korea, said, "The biggest concern for French companies established in Korea is labor-management relations," and added, "We frequently receive complaints expressing the wish that they could operate with greater flexibility in the broader social context."
In addition, Jallicon said, "With President Lee, we largely discussed two issues: 'youth employment' and 'balanced regional development,'" and continued, "President Lee said that foreign companies operating in Korea tend to have a higher youth employment rate than ordinary Korean companies. It seems this is because the corporate environment and working atmosphere are a better fit for young people in Korea." He went on to say, "This year's Career Forum will be held in Busan rather than Seoul, in line with the Lee administration's policy of decentralization." The Career Forum is a multinational recruitment and job fair hosted since 2021 by the French Chamber of Commerce in Korea and the French Embassy in Korea.
At the summit held in Johannesburg, South Africa, last November between President Lee and French President Emmanuel Macron, the two leaders agreed to arrange President Macron's visit to Korea this year to mark the 140th anniversary of diplomatic relations between Korea and France. Regarding this, Marlen Marques Lopez, Head of the Economic and Commercial Office at the French Embassy in Korea, said, "Strategic partnership agreements between companies, which will be newly announced around the time of the visit, are still under discussion," and added, "We expect these to take concrete shape in areas such as decarbonization, deep tech, and IT."
Philippe Bertaut, French Ambassador to Korea, is speaking at a press conference for the "Research Report on France's Economic Influence in Korea" held at the French Embassy in Seodaemun-gu, Seoul, on the morning of the 25th. Photo by Shim Seonga
Meanwhile, the "Study Report on France's Economic Influence in Korea" introduced on this day presents the role of French companies in the Korean economy and offers sustainable values and new insights. It provides a detailed explanation of the previously under-the-radar cooperation between the two countries in areas such as technology, decarbonization, aerospace, and defense.
Philippe Bertoux, French Ambassador to South Korea, said, "This report offers a new perspective on France's economic footprint and influence in Korea, looking ahead to future-oriented development and progress that have been strengthened over a long period," and added, "With high-level visits to Korea also scheduled, I believe this will serve as an opportunity for bilateral relations between Korea and France to leap toward a new horizon, building on the achievements we have made together."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
