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Business talk breakdown: DP-FKI meeting ends in stalemate

Published: 05 Mar. 2025, 19:12

JIN EUN-SOO
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Democratic Party (DP) leader Lee Jae-myung, second from left, and Federation of Korean Industries Chairman Ryu Jin, third from left, meet at the National Assembly on March 5 to discuss some of the pending issues for Korea's businesses such as the exemption of Korea's chip industry from a 52-hour workweek limit and amendments to the country's Commercial Act. It is the first time in 10 years that the leaders of the DP and the FKI have officially met.

Democratic Party (DP) leader Lee Jae-myung, second from left, and Federation of Korean Industries Chairman Ryu Jin, third from left, met at the National Assembly on March 5 to discuss some of the pending issues for Korea's businesses. It is the first time in 10 years that the leaders of the DP and the FKI have officially met.

The hourlong meeting, however, failed to bear fruit as the two sides failed to narrow the gap in opinions on key agenda items like exempting Korea's chip industry from a 52-hour work week limit or making amendments to the Commercial Act.

Ryu delivered concerns from the business side regarding the revision on the Commercial Act while Lee reiterated the need to eliminate fundamental mistrust toward the Korean market to elevate local companies' competitiveness. The FKI also requested a sweeping compromise between the ruling and the opposition parties regarding the 52-hour workweek exemption.

BY JIN EUN-SOO [[email protected]]