South Korea's chief economic policymaker said Wednesday that the government would provide full support for new businesses sought by large firms through deregulation and other measures so they can create more jobs.
In a meeting with senior executives of Hyundai Motor Group, including Hyundai Motor Vice Chairman Chung Eui-sun, Finance Minister Kim Dong-yeon said the country's large conglomerates like Hyundai Motor are "key" axes for innovative growth.
"I appreciate Hyundai Motor's role in creating more jobs and spearheading new businesses," Kim said. "I think co-prosperity with subcontractors is critical for innovative growth."
Chung said Hyundai Motor will make efforts to create a beneficial cycle of investment and employment, while providing more support to the automaker's subcontractors and smaller suppliers as well.
Kim's visit to Hyundai Motor marks the third meeting of its kind with local businesses.
Last month, the minister held talks with senior officials from LG Group, a chemical and electronics conglomerate, to consider the company's voice.
In July, President Moon Jae-in invited chiefs of the country's major conglomerates to exchange views on how to generate more jobs and other key issues, such as the coexistence of large and small companies.
The finance minister said the government will continue to arrange meetings with the business community to listen to their demands. (Yonhap)
