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At a meeting with senior secretaries Monday, President Park Geun-hye said shes concerned
about the direction of a parliamentary discussion over how to better regulate unfair business
practices and achieve her policy of economic democratization.
She said... the bills being discussed by the parliaments National Policy Committee contain
measures that go beyond what she had promised in her presidential election campaign.
The committee is currently reviewing a number of proposed revisions to the existing fair
trade act.
One of these would tighten regulations on nearly all transactions between the affiliates
of large corporations... because they've been defined as unfair.
Another revision would give large corporations caught funneling work to their affiliates
the burden of proof, instead of the watchdog Fair Trade Commission.
These measures, President Park said, are extreme... and could possibly discourage firms from making
investments.
During her election campaign, President Park pledged to restrict the power of large family-owned
conglomerates... and offered to limit use of the presidential pardon for serious crimes
committed by dominant shareholders or conglomerate executives.
The main opposition Democratic United Party criticized the president for her comments,
saying that she was retreating from her original election pledge of economic democratization,...
which aims to level the playing field for smaller businesses,... and trying to influence
the legislative process.
The presidential office of Cheong Wa Dae says the president remains committed to economic
democratization,... but she just wants to make sure that reasonable business practices
are not regulated unfairly.
Kim Yeon-ji, Arirang News.