“The Emotional Anti-US Movement Has Bad Influence on Korean Economy”

The full-time vice presidents of the 5 economy organizations such as the Korea Chamber of Commerce, the Federation of Korean Industries, the Korea Employers Federation, the Trade Association, and the Korea Federation of Small Business Central Committee had a press conference at the Federation of Korean Industries building in Seoul on the 16th and announced a statement to the people to control the expansion of the anti-US demonstration.

They released a statement signed by the leaders of the 5 organizations saying, `the issue of the death of the middle school girls could not be expanded to the anti-US movement,` and appealed to the people to cope with this situation cool-headedly and wisely saying, “The anti-US emotion of Koreans seems to get over the limit.”

The 5 economy organizations worried that the anti-US movement in Korea could ignite the anti-Korea emotion and boycott of Korean goods in the US, so it could have bad influence in Korean economy. They also added that the export to America took 20.7% of the total exportation and 4 billion dollars out of 6.7 billion dollar foreign investment was from America.

They said, “The emotional reaction makes the world market smaller for Korea,” and they insisted that the anti-US demonstrations made exportation and foreign investment dwindle and reduce the employment, so they would have bad influence in Korean economy.

The 5 economy organizations stressed, “The US Forces might actually evacuate,” and “America is an ally, which bled during the Korean War, and the traditional friendly relationship must be continued and developed.”

They appealed that, therefore, the people should be patient and see the negotiation for improving the SOFA regulations; however, people should be careful not to expand the issue of the death of the middle school girls to the evacuation of the US Forces and the anti-US movement.

In the meantime the Korean Confederation of Trade Union said about that, “It is a long and exaggerated assertion that the exportation stops and foreign funds leave the country because of candlelight demonstration,” and criticized, “The saying of the 5 economy organizations is a really imprudent act that does not consider the seriousness of the result of the trial and the people`s emotion.”

Yeon-Su Shin ysshin@donga.com