S. Korean President Moon meeting conglomerate leaders this week in groups

2017.07.24 13:28:14 | 2017.07.25 11:19:59

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President Moon Jae-in will hold group talks with leaders of the country’s top conglomerates over two days from Thursday amid business concerns about anti-chaebol stance of the new liberal government.

Fourteen large-cap conglomerates plus mid-sized food maker Ottogi Corp. would be invited to the group talks focused to encourage hiring and shared growth with smaller partner companies, the Blue House said on Sunday.

Invitations went to Samsung, SK, LG, Lotte, Posco, GS, Hanwha, Shinsegae, KT, Doosan, Hanjin and CJ Groups, Hyundai Motor Co. and its sister Kia Motors Corp., Hyundai Heavy Industries Co., and Ottogi Corp.

Ottogi is said to have been handpicked by the president as an exemplary case for taking initiative in increasing hiring and benefits for suppliers.

Deputy prime minister for economic affairs Kim Dong-yeon, Minister of Trade, Industry and Energy Paik Un-gyu, Fair Trade Commission Chief Kim Sang-jo, and Financial Chief Choi Jong-ku will attend the talks.

The meeting with conglomerates comes amid growing concerns about anti-chaebol environment under the new liberal government that has begun discussing hiking income tax rates for rich individuals and enterprises on top of tougher scrutiny over monopolistic or predatory practices of dominant players and irregularities of family-run businesses.

Moon has opted to meet business leaders in groups for greater transparency as impeached former President Park Geun-hye is being tried under bribery charges for coercing chaebol leaders to make private donations in return for favors in tete-a-tete meetings.

By Oh Soo-hyun

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