People Power Party leader Jang Dong-hyuk speaks at a meeting with mid-sized companies held at the Korea Federation of SMEs building in Mapo-gu, Seoul on the 14th. Yonhap News

People Power Party leader Jang Dong-hyuk said on the 19th, "It is the government's role to reform regulations centered on growth and create an environment where businesses can breathe."

At the 'People Power Party-Korea Chamber of Commerce and Industry Policy Meeting' held at the Chamber Lounge of the Korea Chamber of Commerce and Industry in Jung-gu, Seoul, Jang said, "While businesses compete freely on the global stage, the government must support them so they don't get tired."

Jang pointed out, "Recently, amendments to the Commercial Act, which businesses are concerned about, are being passed, and the Severe Accident Punishment Act is being strictly applied, reducing the space for businesses to breathe. Many people question whether this government is truly creating a business-friendly economic environment that allows businesses to breathe."

He also criticized, "The government is trying to push for a retirement age extension law without social consensus."

Jang stated, "If businesses thrive, the labor market thrives, and if the labor market thrives, opportunities and jobs for youth open up. The People Power Party will do its best to remove the shackles that hold businesses back."

Floor Leader Song Eon-seok said, "We must fundamentally change the regulatory framework to enable businesses to boldly and freely attempt new challenges. Institutional improvements to address the difficult business environment, represented by the Yellow Envelope Act and a stricter Commercial Act, are urgently needed."

He added, "We will strive for legislation at the National Assembly level to create growth-oriented industrial policies and improve the stepped regulatory structure."

Attendees at the meeting included Kim Do-eup, Policy Committee Chairman, and lawmakers Yoon Han-hong, Chairman of the National Assembly's Political Affairs Committee, and Im Yi-ja, Chairman of the National Assembly's Strategy and Finance Committee, from the party, and Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry, from the chamber.

Yonhap News