President Lee Jae-myung Emphasizes Corporate Role in Economic Growth

On June 13, 2025, President Lee Jae-myung met with the heads of South Korea's five major conglomerates at the Yongsan Presidential Office. During the meeting, he stated, "The core of the economy is businesses," and pledged to eliminate unnecessary regulations that hinder administrative convenience.

President Lee highlighted the government's fundamental responsibility to ensure public safety and security, while also stressing the importance of addressing the economic needs of citizens. He noted, "We are moving towards stabilizing a currently unstable situation," and expressed relief over the recent market stabilization and rising stock prices following the elections.

He emphasized that the government’s primary role is to actively support and cooperate with business leaders to foster economic growth and enable them to thrive in their ventures. However, he also acknowledged the significance of addressing internal issues within companies, such as labor concerns and the challenges faced by small and medium-sized enterprises, to create a fair economic ecosystem.

President Lee remarked, "I believe that the era of unfair competition and exploitation in the South Korean economy is over, but there are still lingering distrusts that need to be alleviated." He expressed his commitment to minimizing the difficulties businesses face in international competition and expanding their economic territories through diplomatic and security efforts.

He encouraged attendees to share their insights on international trade issues, assuring them that the government would align its efforts with their needs. Furthermore, he reiterated the administration's focus on rationalizing regulations, stating, "We will decisively remove unnecessary regulations for administrative convenience."

Regarding government appointments, President Lee mentioned his intention to consider the opinions of industry leaders and welcomed recommendations for personnel selections.

The meeting included prominent figures such as Lee Jae-yong (이재용) of Samsung Electronics, Chey Tae-won (최태원) of SK Group, Chung Eui-sun (정의선) of Hyundai Motor Group, Koo Kwang-mo (구광모) of LG Group, and Shin Dong-bin (신동빈) of Lotte Group, along with leaders from various economic organizations.