ID :
190599
Thu, 06/23/2011 - 09:55
Auther :
Shortlink :
https://oananews.org//node/190599
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Business, political circles lock horns over tax cuts
SEOUL, June 23 (Yonhap) -- Conflict between South Korea's business community and political circle is deepening as a parliamentary committee decided to have the head of a key business lobby testify at a public hearing over his recent criticism of a move to scrap planned tax reductions.
The Federation of Korean Industries (FKI), South Korea's largest lobby for businesses, expressed serious concerns Thursday over the move to summon its chairman Huh Chang-soo, also the chairman of GS Group, an energy and construction giant.
"(FKI) is well prepared to discuss economic policies such as a withdrawal of tax cuts, but whether summoning chairman Huh to a parliamentary hearing is appropriate is questionable," an FKI official told reporters, asking not to be identified.
The official claimed the political parties may be only trying to publicly disgrace the FKI chairman by attacking him at the open hearing, which will likely be televised, especially if Huh is summoned.
The ongoing tension between the FKI and political parties, including opposition parties, was sparked Tuesday when Huh openly criticized the parties' well-anticipated move to scrap the planned tax cuts.
The ruling Grand National Party decided last week to push for scrapping the tax cuts during an upcoming parliamentary session starting in early September, a move welcomed by the main opposition Democratic Party as it had long claimed the tax reductions will only benefit large companies and rich people.
In addition to being the largest business lobby in South Korea, the FKI also plays as a strong opinion leader in the country with over 600 of the country's largest companies as its members.
However, the political parties' apparent grudge against Huh appears to come not from his expression of what can be regarded as a simple opinion but from his labeling of the opposition's demand to repeal tax reductions as well as government efforts to halve college tuitions, as "populist policies."
"We cannot but express serious concerns that (the head of the FKI) would describe the move to withdraw tax reductions and halve college tuitions as rash and populist policies," Democratic Party spokesman Rep. Lee Yong-seop said Wednesday. "It was inappropriate for the head of a large conglomerate to display his primitive way of thinking."
The Korea Employers Federation, another key business lobby, took sides with the FKI, its business ally, saying the move to summon the FKI chairman itself was a populist move.
"The political circle's demand (for Huh) to attend the hearing is just another populist move that can create a precedent for the political sector's indiscreet intervention in the civilian sector," it said in a statement released Thursday.
bdk@yna.co.kr
The Federation of Korean Industries (FKI), South Korea's largest lobby for businesses, expressed serious concerns Thursday over the move to summon its chairman Huh Chang-soo, also the chairman of GS Group, an energy and construction giant.
"(FKI) is well prepared to discuss economic policies such as a withdrawal of tax cuts, but whether summoning chairman Huh to a parliamentary hearing is appropriate is questionable," an FKI official told reporters, asking not to be identified.
The official claimed the political parties may be only trying to publicly disgrace the FKI chairman by attacking him at the open hearing, which will likely be televised, especially if Huh is summoned.
The ongoing tension between the FKI and political parties, including opposition parties, was sparked Tuesday when Huh openly criticized the parties' well-anticipated move to scrap the planned tax cuts.
The ruling Grand National Party decided last week to push for scrapping the tax cuts during an upcoming parliamentary session starting in early September, a move welcomed by the main opposition Democratic Party as it had long claimed the tax reductions will only benefit large companies and rich people.
In addition to being the largest business lobby in South Korea, the FKI also plays as a strong opinion leader in the country with over 600 of the country's largest companies as its members.
However, the political parties' apparent grudge against Huh appears to come not from his expression of what can be regarded as a simple opinion but from his labeling of the opposition's demand to repeal tax reductions as well as government efforts to halve college tuitions, as "populist policies."
"We cannot but express serious concerns that (the head of the FKI) would describe the move to withdraw tax reductions and halve college tuitions as rash and populist policies," Democratic Party spokesman Rep. Lee Yong-seop said Wednesday. "It was inappropriate for the head of a large conglomerate to display his primitive way of thinking."
The Korea Employers Federation, another key business lobby, took sides with the FKI, its business ally, saying the move to summon the FKI chairman itself was a populist move.
"The political circle's demand (for Huh) to attend the hearing is just another populist move that can create a precedent for the political sector's indiscreet intervention in the civilian sector," it said in a statement released Thursday.
bdk@yna.co.kr
