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| ▲ President-elect Yoon Suk-yeol poses for photos after receiving flowers in his party's election situation room at the National Assembly in Seoul on March 10, 2022. (Pool photo) (Yonhap) |
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Biz lobbies ask President-elect Yoon to create biz-friendly environment
SEOUL, March 10 (Yonhap) -- South Korea's business lobby groups on Thursday called on President-elect Yoon Suk-yeol to create an environment for companies to make further investments and create more jobs.
Opposition candidate Yoon, 61, was elected South Korea's next president Thursday after an unbelievably close race that underlined deep divisions along regional, generational and gender lines, and hands him a daunting task to narrow those chasms.
The country's business lobbies, such as the Federation of Korean Industries (FKI) and the Korea Chamber of Commerce and Industry (KCCI), made the call as they see the new government's leadership is the key to responding to sluggish local consumption, low birthrates and aging population.
"Yoon's election represents the nation's wishes (for the new administration) to ride out the prolonged COVID-19 pandemic and bring back justice and common sense to the society," the FKI said in a statement.
During his campaign, Yoon criticized liberal President Moon Jae-in for pursuing state-led economic growth, saying the economic paradigm should be completely changed, led by the private sector and innovation, not by the government and its debt-incurring spending.
They also cited Russia's invasion into Ukraine, the trade dispute between China and the United States, and the rapid change in technological development, known as the Fourth Industrial Revolution, as growing uncertainties for businesses.
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