“Only Legal Political Funds Will be Contributed”

The economic circle repeatedly urged that the government and the political authorities must not over-issue `generosity policies` to win voters before the year’s local and presidential elections. Also, in terms of political funding, it publicly clarified that "Contributions will be made only within the boundary of legality and clarity, and none will be given otherwise."

The Federation of Korean Industries (FKI) held a chair group meeting on the 8th at FKI Hall in Youido, Seoul, to approve such agreement and decided to make the voice of the business world heard in order to prevent economic agendas being manipulated by political forces.

FKI deputy chairman Son Byung-Doo said, "The chair group agreed that unlawful political funds can not be given while corporations’ transparency is so high."

Son also said, "Even during the elections, the business world will prefer the candidate with the same liberal democracy and free market ideology." hinting that a candidate who reflects the business world’s view may be supported.

FKI authorities explained, "We will not support particular candidates and parties, but will search for indirect measures to support the ones who reflect the economic policy agendas we prepare."

FKI chair group urged the government to maintain the previous framework of economic policy that includes interest-rate stability and early execution of the budget. It said, "How Korea carries out the national events like the two elections, World Cup, and Asian Games will decide whether the Korean economy will rise or fall."

FKI is to issue the `Economic World’s Proposal to Political and Various Circles` and `Corporations’ Autonomous Practice Matters` at its regular general meeting on the 22nd to urge the government and political world to strive for improvements in the corporate environment, while the business world strives for ethical management and raise employment rates in return.

Won-Jae Park parkwj@donga.com