Corporate duties needed

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Corporate duties needed

Economic circles called on the government to facilitate the process of deregulation, insisting that regulations requiring business to provide work site nurseries, offer jobs for people with disabilities, and comply with industrial safety standards are imposing a heavy burden on corporate activities.
These duties were included among the “267 reform tasks on economic regulations,” which Korea’s five big business alliances — including the Federation of Korean Industries — submitted to the government.
It’s a list of demands from their member firms.
Of course, economic circles should urge the government to press for faster and more sweeping deregulation to bolster Korea’s competitiveness.
In this regard, it is significant for economic circles to find out which regulations need to be deregulated in the near future.
However, every regulation cannot always be deregulated.
We can appreciate that the controversial issues raised by economic experts with the government, including the mandatory establishment of nursery centers inside the company, compulsory employment for people with disabilities, and compliance with various industrial safety standards are imposing heavy economic burdens on companies.
However, let’s remember that we need such regulations for enhancing human rights, maternity protection and to boost the birth rate.
Against this backdrop, we are required to comply with social norms of a high order and not just focus on economic advantages.
We agree that regulations that obstruct corporate activities and investments should be deregulated at the earliest possible date.
In addition, we strongly urge the government to take appropriate measures to deregulate and abolish regulations in a consistent manner.
As the new government is prioritizing deregulation, we maintain high hopes and expectations.
However, we need to recognize that there are definite limits regarding this matter.
Economic circles should not make sweeping criticisms and urge the government to facilitate the deregulation that simply fits corporate burdens regardless of important social norms.
They should not exploit the government’s pledge for deregulation.
We may end up with results that run contrary to deregulation.
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