KEF Chair Urges Regulatory Reform to Boost Corporate Dynamism in Korea

South Korea corporate reform is entering what the Korea Enterprises Federation chairman Sohn Kyung-shik described as a “golden time” for economic transformation, as he urged policymakers to push structural changes to revive innovation and risk-taking.

In a New Year address, Sohn called for easing rigid labour regulations, arguing that inflexible rules undermine productivity and slow adaptation to industrial change.

He said labour-market reform could also help address debates over extending the retirement age without harming youth employment.

Sohn also pressed for improvements in labour-management relations, stronger adherence to the rule of law, and deregulation and tax reforms, including changes to corporate and inheritance taxes, to bolster competitiveness.