The Korean government's economic policies are well received by the business community...``We hope for a recovery in investment and exports''

Economic organizations such as the Korean Employers' Association (Keijō) and the Korea International Trade Association gave positive evaluations to the ``2024 Economic Policy Direction'' announced by the South Korean government on the 4th. The government will expand investment and increase exports.
He prioritized economic recovery and regulatory innovation, and announced support measures such as tax incentives and the provision of trade finance. The Economic Affairs Bureau said, ``The direction of economic policy in 2024 will increase the vitality of the Korean economy.
``This will contribute to reducing the burden on the public economy caused by high prices and high interest rates.'' ``Tax incentives such as extending the temporary investment tax credit and improving location regulations will improve the investment cycle of companies.''
I think this will be of great help in improving the environment." In addition, ``In order for the South Korean economy, which is concerned about continued low growth, to resolve its structural problems and make a leap forward again, the government will promote regulatory innovation and labor reform.''
It is important to steadily implement issues such as labor reform and tax reform," and added, "In particular, I would like to see a stronger push for labor reform, which is the most urgent issue in order to advance labor-management relations." request
I met. Jeong Man-ki, vice president of the Korea International Trade Association, also said, ``We welcome the direction of the 2024 economic policy announced by the government on the 4th,'' adding, ``355 trillion won in trade finance for export companies.
"The extension of supply and tax support for small and medium-sized exporting companies will greatly contribute to increasing exports for exporting companies that are having trouble securing funds due to prolonged high interest rates."
``As the competition to attract cutting-edge future industries in each country intensifies, we will extend the temporary investment tax credit for facility investment, etc.''
"Strengthening investment incentives, eliminating killer regulations, and evolving the labor market will help strengthen the competitiveness and foundations of export industries."
The Korean Business Association also commented on this measure, saying, ``Policies to strengthen trade finance, economic diplomacy, and trade cooperation for export recovery are
It will serve as a bulwark to overcome the waves of the harsh global trade environment,'' he said, adding, ``Above all, support measures for taxation, finance, problem-solving, etc. to expand investment should encourage corporate investment and support cutting-edge technology.''
This will help ensure Japan's leadership and improve its global competitiveness." Meanwhile, the business community has also made demands on the government.
In a commentary, the Korean Chamber of Commerce and Industry said, ``Increasing investment, exports, and bold regulatory innovation will increase the sense of recovery among economic entities.''
``While pre-emptively managing potential risks, it reflected in a well-balanced manner the challenges of long-term dynamic economic building and structural reform to prepare for the future.'' However, on the other hand,
Providing sustainable trade finance, extending investment tax credits, supporting the development of cutting-edge industries and diversifying supply chains, and providing incentives for achieving carbon neutrality will not only support economic recovery but also sustainable growth.
This is a necessary policy for the sake of the president." The Small and Medium Enterprise Federation said, ``We sympathize with the direction of reforming wage systems and working hours and promoting the establishment of labor-management legal rule in order to advance the labor market.
We hope that the government will continue to promote regulatory improvements that are compatible with the changing working environment, such as the application of flexible working hours regardless of job type and the expansion of extended work periods beyond one month."
The Korean Federation of Small and Medium Enterprises also stated, ``It is a timely measure to significantly expand the scale of the influx of foreign human resources to solve problems in the labor force field.''
Therefore, we need to find a positive approach that can permanently resolve companies' chronic recruitment difficulties."