Lee Promises to Create Business-Friendly Environment

President-elect Lee Myung-bak said on Friday, “I will make a `business-friendly’ government during my presidency and create a world where those who make investments and create jobs are respected.”

The former Seoul mayor said during a meeting with conglomerate leaders at the headquarters of the Federation of Korean Industries in Seoul that as jobs are created when companies make investments, the only thing that the government can do about it is to create a business-friendly environment for them, according to Lee’s spokesman Joo Ho-young.

“The expression, ‘collusion between politicians and businesses,’ no longer exists. Those who have power cannot be a burden on businessmen any more as of December 19. Businesses had to suffer from anti-market and anti-corporate sentiments for over the past decade. The government will no longer tell businesses what to do in the future as they will be judged by the global market,” Lee said.

“When I take office, I will establish the Committee on National Competitiveness with a group of private and government experts to establish an effective communication channel with business circles. I will make sure that businesses meet with the government on a regular basis and have candid discussions so that their suggestions can be reflected in policies,” Lee added.

The CEO-turned politician even told the participating businessmen that they may directly reach him over the phone if they face difficulties. “I’d like to ask businesses to make efforts to create jobs, which is what everyone in the country wants. In return, the new government will create a highly business-friendly environment.”

With regard to real estate related policies, Lee said, “Although the current real estate policies need to be revised to some extent, I assure you that the price of real estate will not increase during my tenure.”

Cho Seok-rae, chairman of the Federation of Korean Industries, said in a speech that the business community welcomes the economy-first president and will closely cooperate with the new government to help Korea join the ranks of advanced countries in the near future. Cho suggested that the government establish a business-friendly environment, deregulate, act strictly on illegal strikes and engage in close dialogues with businesses.

Some 20 conglomerate heads participated in the meeting, including Samsung Chairman Lee Kun-hee, Hyundai Motor Chairman Chung Mong-koo, LG Chairman Koo Bon-moo, SK Chairman Chey Tae-won and Hanwha Group Chairman Kim Seung-yeon.

swpark@donga.com