FKI Agrees to Create Jobs

Business leaders have decided to create more jobs to solve the serious youth unemployment problem. In its monthly chairmen meeting held at the Grand Hyatt Hotel in Seoul on Tuesday, the Federation of Korean Industries (FKI) decided to establish a special committee on job creation.

Participants also agreed to set up a special committee on the development of political system in order to eliminate the practice of offering illegal funds to politicians and improve the political fund system.

In addition, committees on trade, labor-management relations, and cultural industries will be formed.

The special committee on the job creation that will be headed by Kang Shin-ho, acting chairman of the KFI, will pursue various programs to generate jobs in collaboration with the government, academia, and the labor community.

The committee will report to FKI’s chairmen meetings on how these programs are developing and how many jobs will be created.

The special committee on the development of political system will help FKI’s proposals on improving the political fund system to be reflected in the bill on revising the political fund law that is currently being discussed. The National Assembly’s Special Committee for Political Reform has ignored the voices of the business community, the main provider of political funds.

The chairmen expressed high expectations for a luncheon meeting with President Roh Moo-hyun on January 19, saying that the meeting would be a good opportunity to demonstrate President Roh’s determination and commitment to the economic recovery. Chairmen of major corporations will reportedly attend the luncheon.

Jong sik Kong kong@donga.com