ID :
204601
Wed, 08/31/2011 - 14:18
Auther :
Shortlink :
https://oananews.org//node/204601
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Lee demands chaebol take greater role in narrowing social inequalities
(ATTN: UPDATES throughout with remarks from Lee, business leaders; ADDS photo)
By Chang Jae-soon
SEOUL, Aug. 31 (Yonhap) -- President Lee Myung-bak called for big businesses Wednesday to do more to share the benefits of their growth with less well-off members of society, saying it is a "mission of the times" for conglomerates to play greater roles in society.
Lee made the remark during a 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. The meeting was set up to seek understanding and cooperation from conglomerates for Lee's campaign to narrow social inequalities.
Earlier this month, Lee has put forward what is dubbed "ecosystemic development" as a key policy focus in the remainder of his term that ends in early 2013. The drive calls for big businesses to play greater roles in helping smaller firms grow and in addressing social polarization.
Lee coined the phrase "ecosystemic development" to describe his yearning for a society where its members coexist harmoniously as in the ecosystem, aides said.
"We have to make an ecosystem where all of us grow together in a win-win manner," Lee told the meeting with the business chiefs, according to presidential spokesman Park Jeong-ha. "I believe we can safeguard capitalism and market economy and move our society forward only when we create an atmosphere of ecosystemic development."
Lee said that ecosystemic development is an "unavoidable mission of the times" and that conglomerate chiefs should take the lead in the drive. That would help foster a social atmosphere where corporations are beloved and assessed positively, he said.
Lee also called on the Federation of Korean Industries, the largest business lobby in South Korea, to think about the future roles of conglomerates so as to win the trust and affection of the people, according to the spokesman.
Conglomerate chiefs voiced full support for Lee's drive.
"We businesses share an understanding that ecosystemic development is important more than anything else," FKI Chairman Huh Chang-soo said. "We businesses will further strengthen our innate role of strengthening competitiveness in the global market and invigorating the national economy. More than anything else, we will create new jobs and give hope to the younger generations."
Samsung Chairman Lee Kun-hee also said that he will bolster cooperation with smaller firms so as to create a "competitive corporate ecosystem" while trying to fulfill social responsibilities of corporations, according to an excerpt of remarks provided by the presidential office.
Hyundai Motor Co. Chairman Chung Mong-koo also said that he will expand investment in areas considered fresh growth engines, launch a scholarship project and strengthen support for establishing social enterprises aimed at creating jobs for the less privileged.
Lee, who promoted pro-business policies in his early years in office, has 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.
In recent weeks, 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's Chung 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.
By Chang Jae-soon
SEOUL, Aug. 31 (Yonhap) -- President Lee Myung-bak called for big businesses Wednesday to do more to share the benefits of their growth with less well-off members of society, saying it is a "mission of the times" for conglomerates to play greater roles in society.
Lee made the remark during a 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. The meeting was set up to seek understanding and cooperation from conglomerates for Lee's campaign to narrow social inequalities.
Earlier this month, Lee has put forward what is dubbed "ecosystemic development" as a key policy focus in the remainder of his term that ends in early 2013. The drive calls for big businesses to play greater roles in helping smaller firms grow and in addressing social polarization.
Lee coined the phrase "ecosystemic development" to describe his yearning for a society where its members coexist harmoniously as in the ecosystem, aides said.
"We have to make an ecosystem where all of us grow together in a win-win manner," Lee told the meeting with the business chiefs, according to presidential spokesman Park Jeong-ha. "I believe we can safeguard capitalism and market economy and move our society forward only when we create an atmosphere of ecosystemic development."
Lee said that ecosystemic development is an "unavoidable mission of the times" and that conglomerate chiefs should take the lead in the drive. That would help foster a social atmosphere where corporations are beloved and assessed positively, he said.
Lee also called on the Federation of Korean Industries, the largest business lobby in South Korea, to think about the future roles of conglomerates so as to win the trust and affection of the people, according to the spokesman.
Conglomerate chiefs voiced full support for Lee's drive.
"We businesses share an understanding that ecosystemic development is important more than anything else," FKI Chairman Huh Chang-soo said. "We businesses will further strengthen our innate role of strengthening competitiveness in the global market and invigorating the national economy. More than anything else, we will create new jobs and give hope to the younger generations."
Samsung Chairman Lee Kun-hee also said that he will bolster cooperation with smaller firms so as to create a "competitive corporate ecosystem" while trying to fulfill social responsibilities of corporations, according to an excerpt of remarks provided by the presidential office.
Hyundai Motor Co. Chairman Chung Mong-koo also said that he will expand investment in areas considered fresh growth engines, launch a scholarship project and strengthen support for establishing social enterprises aimed at creating jobs for the less privileged.
Lee, who promoted pro-business policies in his early years in office, has 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.
In recent weeks, 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's Chung 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.
