The meeting at the Government Complex Seoul included executives from Samsung, LG and Hyundai Motor, among others.
Koo said that despite a worsening external environment, including the war in the Middle East, the economy was supported by a semiconductor boom, with the preliminary first-quarter GDP estimate rising 1.7% from the previous quarter. He said it was the highest quarterly growth rate since the third quarter of 2020, 5 years and 6 months earlier. He thanked major companies for their contribution and said business leaders had always been a reliable backer in times of crisis.
He urged companies not to be satisfied with current results and to "keep innovating on top of innovation" so they can become "global ultra-innovative companies" and help foster second and third growth engines comparable to the semiconductor industry.
Koo also said some companies at times try to secure profits in ways the public may view as undesirable. He said the era has changed as industrial paradigms shift, including through artificial intelligence, and that companies should expand the overall size of the economy by leading the world with top-ranked products and services, demonstrating the innovative entrepreneurial spirit they have shown in the past.
He said he discussed investment and future-readiness efforts with the companies and added that the government would mobilize all available tools — including financial, tax and regulatory reforms — to fully support corporate investment and innovation efforts.
* This article has been translated by AI.
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