JEJU-DO < invest Korea

According to Yonhap News,

Bahk Jae-wan, minister of Strategy and Finance, said on July 24 that the importance of shared growth is increasing as competition paradigm shifts from individual companies to corporate ecology in the 21st century Jeju Forum.

He said that the role of companies is especially important for sustainable development of the Korean economy. Entrepreneurship is necessary to find out investment opportunities for a virtuous cycle of investment, growth and employment.

He noted that three players- big companies, SMEs and the government- need to play its part for achieving shared growth.

He reiterates that the government will not only pursue deregulation and improve corporate environment, but also punish unfair support to affiliates, strengthen surveillance on suppliers, increase incentives for good-performing companies.

Minister Bahk urges companies to enhance productivity in new growth engine and service industries, saying that it is necessary to secure global competitiveness.

Source Text

Source: Yonhap News (July 24, 2011)

** This is an English translation of a Korean news article.