Handonghun: "I Will Engage in Politics That Supports Corporate Growth"

Revealed at the Korea Employers Federation Meeting
"Encouraging Competition Is the Essence of Conservative Politics"

Han Dong-hoon, leader of the People Power Party, announced that he will pursue politics aimed at the development of businesses.

On the 21st, Han Dong-hoon, the leader of the People Power Party, visited the Korea Employers Federation in Mapo-gu, Seoul, and took photos before a meeting with Sohn Kyung-shik, the chairman of the Korea Employers Federation. Photo by Kang Jin-hyung

On the 21st, at a meeting held at the Korea Employers Federation building in Mapo-gu, Seoul, Han said, "I will engage in politics that does not hinder the development of businesses and boldly supports their growth." He added, "There have been many instances where politics obstructed business development and innovation. I will work to eliminate that."

Han also shared his thoughts on conservative politics and liberal democracy. He stated, "The essence of liberal democracy and conservative politics is to encourage competition and uphold the rules of competition," adding, "It also means guaranteeing a humane life for those who lose in competition or do not wish to participate."

He continued, "There is still an opportunity for South Korea to achieve upward growth. We must join the AI (artificial intelligence) revolution and realize upward growth," and added, "With the fruits of such upward policies, we must address disparities and provide welfare for all."

Son Kyung-sik, chairman of the Korea Employers Federation, conveyed the business community’s proposals during his opening remarks, including measures to enhance labor market flexibility, concerns about uniform statutory retirement age extension, and direct subsidies for semiconductor companies. Han responded, "Although it is difficult, there are topics that Chairman Son mentioned which we must not avoid," and said, "Regarding those topics, I will listen openly, engage in discussions, and proceed accordingly."

Kim Sang-hoon, chairman of the People Power Party’s Policy Committee, pointed out the logical contradictions in including a 'duty of loyalty to shareholders' in the Commercial Act. Kim said, "Among shareholders, there are institutional investors, foreigners, private equity funds, and small shareholders," and emphasized, "There is no way to overcome the logical contradiction of how to be loyal to shareholders with differing interests. We will do our best to discuss with the government and come up with good alternatives." The government recently finalized a draft amendment to the Commercial Act that includes the provision that "directors must endeavor to protect the legitimate interests of shareholders while performing their duties."

This content was produced with the assistance of AI translation services.