The leaders of the major parties put forward different economic formulas during their talks with a business lobby chief on Wednesday, with one stressing corporate responsibility and the other deregulation.

Choo Mi-ae and Hong Joon-pyo, the chiefs of the ruling Democratic Party and main opposition Liberty Korea Party, separately met with Korea Chamber of Commerce and Industry President Park Yong-maan, who visited to urge support for a set of economic revitalization bills.

Noting a series of economic challenges such as high unemployment, low growth and income disparities, Choo voiced hope for local businesses to fulfill their "social responsibilities" to help address them.
 
"The Moon Jae-in administration is taking economic steps for income-led growth," Choo said, referring to Moon's economic strategy to address income gaps and boost growth by creating jobs and increasing household revenue.

"If we undertake social responsibilities with one mind, the future of a fair, just Korea may not be too far away," she added.

Park, in response, stressed the need for local businesses to sharpen their competitive edge through constant innovation.

"We have to make efforts for mutual cooperation (among businesses, workers and the government), and it is also necessary for businesses to strengthen their capabilities through innovation," Park said.

"I also hope that (political parties) can make efforts with regards to the bills aimed at rejuvenating the economy," he added.

Hong used his meeting to bash a series of the Moon government's policy moves, including its initiative to create public-service jobs and pursue a corporate tax hike for the top-earning businesses.
 
"Job creation is a matter for private businesses... and the anti-business climate is becoming widespread... This is why companies are escaping overseas," Hong said during the meeting with Park. "There is no country in the world that squeezes companies and raises the corporate tax."

Hong, the leader of the conservative party, has been a vocal critic of Moon's economic policies, calling for deregulation, tax cuts and corporate autonomy, while his rival party underscores a more active government role to redress past government's economic failures.

Hong also railed against militant labor groups, which he has long accused of undermining the competitiveness of top conglomerates.

"During the upcoming regular parliamentary session, our party will seek to give more freedom to businesses, enable deregulation and take care of the militant labor groups so as to help businesses operate here in Korea," he said.

"I hope that through your business activities, you can give our young people more jobs and hope," he added.

Park, in turn, urged Hong to explore ways to address any legal hurdles for local businesses. (Yonhap)