Search results for Korea Enterprises Federation
Industry
MOTIE urgently convenes business groups to address supply chain risks from Middle East war
South Korea\'s Ministry of Trade, Industry and Energy activated an emergency cooperation channel with major business groups to respond to supply chain risks linked to the war in the Middle East. Minister Kim Jung-kwan met leaders from six economic organisations on March 27 after a presidential emergency economy meeting. The government asked for efforts to secure alternative suppliers, check inventories and prevent collusion and hoarding. It also urged energy-saving measures and pledged strict action against disruptions.
Industry
Industry ministry warns economic groups over fake news, says it undermines trust across economy
South Korea\'s industry ministry has begun an audit into a Korea Chamber of Commerce and Industry press release that contained false statistics, after holding an emergency meeting with six major economic groups. Industry Minister Kim Jeong-gwan apologised as the minister overseeing the chamber and criticised the release for citing estimates from a private immigration consulting firm rather than a professional survey agency. He said the matter could confuse the public and markets and damage trust in the policy environment.
Finance
Third Commercial Act revision nears as value-up catalyst, business warns of management chill
South Korea is moving closer to a third revision to the Commercial Act, which could pass parliament as early as early February after review by a key committee, the financial investment industry said. The bill would mandate the cancellation of treasury shares within set time limits and curb or require protections for duplicate listings. Business groups asked for exceptions, a longer grace period and changes to breach-of-trust rules. President Lee Jae-myung voiced support for swift passage.
