Biz groups urge efforts to move forward following impeachment

Published : Mar 10, 2017 - 12:50 Updated : Mar 12, 2017 - 13:44

South Korea's major business groups urged the nation and its people to quickly turn their attention to what they called urgent and important issues facing the economy, saying that the issue that has caused an enormous drain on national strength has finally come to an end.

Such calls came shortly after the Constitutional Court upheld the National Assembly's decision to impeach former President Park Geun-hye, immediately removing her from office.

This image shows President Park Geun-hye (right) and Lee Jung-mi, acting chief of the Constitutional Court. (Yonhap)

"The impeachment of Park came to an end following the Constitutional Court's decision. Our nation has been forced to suffer an enormous loss of its strength and energy due to a social division and ever consuming debates following the parliament's vote to impeach the former president late last year," the Korea International Trade Association said in a released statement.

"Now, every citizen must accept the Constitutional Court's ruling and work to remove uncertainties and normalize the operation of the nation at an early date," it added.

While the nation had been engulfed by the local, political dispute, the world around us and the economy has changed drastically, and for the worse, KITA noted.

A plunge in consumption and rising jobless rate of the young here are among many difficulties facing the local economy, while the United States' move toward trade protectionism is adding to global uncertainties facing not only South Korea but the entire world, it said.

"Now, we must all return to our proper place and devote ourselves to our jobs. The government must work to improve the people's livelihood while developing the whole economy by continuing its structural change towards a free market," it said.

The Federation of Korean Industries said it respected the court's decision to oust the former president, while again offering what could be seen as an apology for its implication in the scandal that has led to Park's impeachment.

FKI, the country's largest business lobby, helped raise nearly 80 billion won ($69.2 million) from its member firms, including Samsung Electronics Co. and Hyundai Motor Co., for two sports foundations set up and controlled by the now disgraced former president's longtime friend Choi Soon-sil.

Several FKI officials have been subject to questioning over corruption charges, along with many heads of FKI member firms. Lee Jae-yong, vice chairman of Samsung Electronics, now remains in custody following his arrest on Feb. 17 over bribery charges.

"The business community too will take this incident as an expensive lesson, and work to create new jobs," the FKI said in a released statement.

"We must all use our wisdom to end the national divide and fill the vacuum in national administration," it said. (Yonhap)