People Power Party lawmakers on the National Assembly's National Policy Committee on the 13th demanded the resignation of Fair Trade Commission Chairman Joo Byung-ki, saying his distorted view of large companies and the market economy raises serious doubts about whether he can carry out his duties in a balanced manner.
Rep. Seo Il-jun, the party's floor manager on the committee, and other lawmakers held a news conference at the National Assembly, saying the FTC chairman's post requires establishing fair competition in the market economy and judging corporate misconduct according to law and principle. "Looking at Chairman Joo's answers yesterday, it raises questions about whether the FTC can investigate and review companies fairly, without political bias," they said.
The criticism followed Joo's remarks a day earlier at a parliamentary audit of government agencies, where he addressed a comment he had made as a professor describing "the hereditary economy of chaebol and large business groups" as the main force creating an "exploitative Korea." Joo said his wording had been excessive in some respects but that he still holds that view. "For Korea to develop, the manager of each individual company must have expertise and make decisions independently, taking responsibility for their own actions," he said. "My point is that our economy can sustain innovation only when there are far more companies like that than there are now."
The lawmakers said expressing a view as a scholar in the past and still holding a negative perception of specific business groups as the head of the agency overseeing Korea's fair trade policy are entirely different matters. "What is most surprising is the statement that 'in modern society, a company is a public institution,'" they said. "Corporate social responsibility and state intervention in management are clearly different matters. The autonomy and property rights of private companies must not be excessively restricted on the grounds of emphasizing a company's public role."
They said such a biased perception would inevitably raise concerns that it will be a major obstacle to the FTC's fair enforcement of the law, calling it "not simply a matter of one person's remarks but an issue directly tied to the fairness and credibility of Korea's fair trade policy." The lawmakers added that Joo must clearly explain to the public his biased views and suspicions surrounding personnel appointments, and said they once again urge him to take responsibility for the controversy and resign as FTC chairman.