Political Donation Reform Urged

Kang Shin-ho, chairman of the Federation of Korean Industries (FKI), is urging that information related to political funds offered by corporations be made public.

Kang emphasized in an interview for the monthly magazine Shindonga that current laws should be revised, saying, “Government subsidies and private political funds under the current Political Fund Act cannot support political activities. At the very least, there should not be cases of political activities incurring further debt.”

Kang added, “The Federation of Japanese Industries offers promotion funds to Japan’s Liberal Democratic Party. Political funds sourced by corporations should be publicized so the FKI can help political parties as per their request.”

He also said, “Collusion between politics and business should end. Corporations should not offer political funds under the table for this year’s election.”

Regarding the recommendations of the National Action Plan for the Promotion and Protection of Human Rights (NAP) that call for “equal pay for equal work,” echoed by the National Human Rights Commission of Korea (NHRC), Kang urged a rethinking of them, saying, “It is an idealistic thought reflecting the progressive perspective only.”

In addition, he said emphatically, “The NHRC’s recommendation, which is almost the same as the slogans of the Korean Confederation of Trade Unions, would put the whole nation, as well as economy, in trouble. The financial world cannot accept recommendations from the viewpoint of anti-business sentiment.”

Kang expressed displeasure against the incumbent NHRC, saying, “The next session of the NHRC should be available for officials who have a balanced point of view and socially high moral repute.”

Kang also said that resolving anti-business sentiment should be the top priority of the FKI this year. “We will be resolving anti-business sentiment nationwide, even with more than half of the FKI’s budget used. In particular, we will endeavor to have corporations actively contribute to society,” he said. “The FKI doesn’t have to be the government’s maid. If the government moves forward with policies out of line with the business world, the FKI will plan to persuade government officials to be guided in line with what the market economy demands.”

Jeong-Hun Park sunshade@donga.com