ID :
204544
Wed, 08/31/2011 - 10:56
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Shortlink :
https://oananews.org//node/204544
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Lee to demand chaebol take greater role in narrowing social inequalities
By Chang Jae-soon
SEOUL, Aug. 31 (Yonhap) -- President Lee Myung-bak plans to call for big businesses to do more to share the benefits of their growth with less well-off members of society when he meets with conglomerate tycoons on Wednesday, an official said.
The lunch meeting with the heads of 26 of South Korea's 30 largest conglomerates, including Samsung and Hyundai Motor, and the leaders of two major business lobbies was set up to seek understanding and cooperation from conglomerates for Lee's campaign to narrow social inequalities.
Lee's drive for what is dubbed "ecosystemic development" was the centerpiece of his Liberation Day address in which he stressed the importance of big businesses playing greater roles in helping smaller firms grow as well to help address social polarization.
Lee coined a word, "ecosystemic," to describe his yearning for an ecosystem-like society, aides said.
Lee, who promoted pro-business policies in his early years in office, has recently sought to boost his image as a caring leader concerned about the mid- and low-income classes amid complaints that the benefits of growth in big businesses, or chaebol, do not trickle down to the working class.
"The president plans to talk about what roles conglomerates should play now for ecosystemic development and how we can achieve a win-win situation between small business and conglomerates and between haves and haves-not," a presidential official said.
"Big businesses have played a lot of roles when overcoming crises, but they have also expanded in quality and quantity in the course of that. In line with that, we have to think about the changing roles of conglomerates and how they can contribute to society," he said.
Lee said earlier that it is a "demand of the times" for conglomerates to meet their "social responsibilities."
After Lee's appeal, some business chiefs came up with pledges to donate assets to charity.
Rep. Chung Mong-joon, South Korea's richest politician who holds the largest stake in Hyundai Heavy Industries, announced that he would use 200 billion won (US$187 million) of his personal assets to establish a 500 billion won foundation to help reduce social inequality, together with other Hyundai companies.
Separately, Hyundai Motor Co. Chairman Chung Mong-koo pledged Sunday to donate 500 billion won (US$462 million) of his personal assets to charity, the biggest-ever charitable contribution made by an individual in South Korea.
jschang@yna.co.kr
SEOUL, Aug. 31 (Yonhap) -- President Lee Myung-bak plans to call for big businesses to do more to share the benefits of their growth with less well-off members of society when he meets with conglomerate tycoons on Wednesday, an official said.
The lunch meeting with the heads of 26 of South Korea's 30 largest conglomerates, including Samsung and Hyundai Motor, and the leaders of two major business lobbies was set up to seek understanding and cooperation from conglomerates for Lee's campaign to narrow social inequalities.
Lee's drive for what is dubbed "ecosystemic development" was the centerpiece of his Liberation Day address in which he stressed the importance of big businesses playing greater roles in helping smaller firms grow as well to help address social polarization.
Lee coined a word, "ecosystemic," to describe his yearning for an ecosystem-like society, aides said.
Lee, who promoted pro-business policies in his early years in office, has recently sought to boost his image as a caring leader concerned about the mid- and low-income classes amid complaints that the benefits of growth in big businesses, or chaebol, do not trickle down to the working class.
"The president plans to talk about what roles conglomerates should play now for ecosystemic development and how we can achieve a win-win situation between small business and conglomerates and between haves and haves-not," a presidential official said.
"Big businesses have played a lot of roles when overcoming crises, but they have also expanded in quality and quantity in the course of that. In line with that, we have to think about the changing roles of conglomerates and how they can contribute to society," he said.
Lee said earlier that it is a "demand of the times" for conglomerates to meet their "social responsibilities."
After Lee's appeal, some business chiefs came up with pledges to donate assets to charity.
Rep. Chung Mong-joon, South Korea's richest politician who holds the largest stake in Hyundai Heavy Industries, announced that he would use 200 billion won (US$187 million) of his personal assets to establish a 500 billion won foundation to help reduce social inequality, together with other Hyundai companies.
Separately, Hyundai Motor Co. Chairman Chung Mong-koo pledged Sunday to donate 500 billion won (US$462 million) of his personal assets to charity, the biggest-ever charitable contribution made by an individual in South Korea.
jschang@yna.co.kr
