[Editorial] Anti-business Sentiment and Threatened Management Rights

A report released by the Korea Chamber of Commerce and Industry that Koreans show the most anti-business sentiment reflects what people feel everyday. Against this backdrop, unionists are moving toward intervening in management`s sphere. Some government officials are even fanning this trend while politicians and civic groups are churning out policies and statements that infringe on businesses` right to management.

This only discourages people from doing business in Korea. As businessmen feel discouraged and have difficulties pursuing profits by exercising their management rights, the engine of growth within the country may be weakened. Without improving the business environment, it will be difficult to achieve a per-capita GNP of $20,000 and to develop the nation into a welfare state.

Many countries guarantee businesses management rights based on a mutual consent among the people concerned, assuming it is in the interest of the majority. If management rights are threatened by unions or forces outside the company, shareholders will be reluctant to invest. It is difficult for economic agents to reach a rational agreement.

Anti-business sentiment and infringement on management rights is only precipitating the nation`s falling behind in certain cutthroat industries. In an environment where profit-making companies are praised, companies are more eager to invest, thereby creating more new jobs and contributing to society through the paying of taxes. If, on the other hand, illegal strikes do not succeed and companies` management rights are protected from such practices, it could enhance the quality of life for most people. Business-friendly sentiment and government policy are urgent.

The government should withdraw its proposal that unions participate in corporate management, as it runs contrary to the spirit of the Constitution. It should also promote a healthy business environment by establishing key legal measures that strengthen companies` right to management.