5 Leading Economic Bodies Urge End to Protests

Korea’s top five economic organizations issued a joint statement yesterday urging an end to candlelight vigils against U.S. beef imports.

The statement was signed by Federation of Korean Industries Vice Chairman Jung Byung-chul; Korea International Trade Association Executive Vice Chairman Yoo Chang-moo; Korea Chamber of Commerce and Industry Vice Chairman Kim Sang-yeul; Korea Federation of Small and Medium Business Vice Chairman Jang Ji-jong; and Korea Employers Federation senior managing director Lee Dong-eung.

All five executives held a joint news conference at the Seoul Press Center to urge no more anti-U.S. beef protests, warning of negative effects on the economy.

In the statement, they said, “Even though the government has released a variety of countermeasures, demonstrations have turned more violent and unions are raising their voices for a general strike, heightening socio-economic uncertainty. The world and media have closely watched these recent developments.”

“If Koreans keep violently protesting at the center of Seoul, Korea’s capital, they can deal a serious blow to the nation’s credibility and dampen foreign investment and exports.”

In a question-and-answer period, the Korean chamber’s Kim said, “The surging prices of oil and raw materials have put a heavier financial burden on Korean firms, depriving them of price competitiveness. They will face increasingly more difficulty. Workers, governments and corporations should team up and come up with effective measures to break the deadlock.”

The trade association’s Yoo said, “After suffering from a trade deficit for five straight months, Korea recorded a trade surplus of one billion dollars in May. Every sector, however, is suffering from difficulty. It will be hard for Korea to record a trade surplus of more than five billion dollars this year.”

The employers federation’s Lee released guidelines on illegal strikes by the Korean Confederation of Trade Unions, saying, “The confederation’s general strike against U.S. beef import or reform of the public sector is definitely illegal.”

“Union participation in a general strike at the confederation’s request is also illegal. Also, if drivers of trucks and ready-mix concrete vehicles refuse to deliver products, they will deal a serious blow to the nation’s economy.”

Lee also said corporations should abide by laws and regulations, hold related people responsible, and refuse to pay wages to protesters if unions participate in illegal protests.

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