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President Park calls on conglomerates to make bold investments to boost economy

Updated: 2013-12-18 (KST)
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Economic revitalization and job creation were two of President Park's key goals for the latter half of this year.
What is important now is keeping the domestic economy on the track to recovery.
President Park, on Tuesday, attended a ribbon-cutting ceremony for the new headquarters of the Federation of Korean Industries, where she met with top business leaders and called for entrepreneurship.

"The government will actively support bold investment decisions that are based on entrepreneurship."

She said that pre-emptive investments made during hard times were what enabled Korea to overcome various crises in the past and helped it to create new opportunities.
President Park said if economic recovery is the short-term goal, enhancing the fundamentals of the Korean economy is the long-term one.
She then urged these companies to take the lead in realizing a creative economy, highlighting just how important a shift in the nation's economic paradigm is.
The president also put great emphasis on shared growth between large and small companies.
She called for a new business ecosystem, one that combines the resources and experiences of large enterprises and the new ideas and creativity of SMEs.
The president also asked conglomerates to focus on the global market, as there are a variety of sectors in which to cooperate with SMEs.

"Companies should look beyond the domestic market and look at the world as a whole as our market. This is the only way to succeed and grow.

President Park suggested conglomerates give away patents they don't use to smaller firms, and seek technological cooperation from them.
Eoh Jin-joo, Arirang News.

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