Seoul: A new task force aimed at crafting a mid- to long-term economic growth strategy for President Lee Jae Myung's administration held its first meeting Tuesday, the finance ministry said. The task force, led by Finance Minister Koo Yun-cheol, is focused on realizing the new administration's vision of "real growth" by fostering emerging industries, such as artificial intelligence (AI), the ministry added.
According to Yonhap News Agency, the government has emphasized that its growth strategy must be business-friendly. Reflecting this approach, the inaugural meeting at the Seoul headquarters of the Korea Chamber of Commerce and Industry included not only ministers and vice ministers from relevant ministries but also the heads of six major economic and business organizations.
One of the primary agenda items discussed was reforming legal and institutional regulations to ease burdens on businesses. The government aims to reduce criminal liability risks for business leaders, particularly concerning breach of trust and other charges. Instead of relying on criminal penalties, the focus will shift toward financial penalties, such as administrative fines and civil compensation.
Additionally, for cases where violations are not severe and do not involve intentional wrongdoing or gross negligence, the government plans to ease or exempt criminal liability through new legal provisions.