(EDITORIAL from the JoongAng Daily on Jan. 6) - Hindering a recovery

As the National Assembly debacle drags on with members of the opposition parties
continuing to besiege the assembly building, business organizations have appealed
to lawmakers to pass at least some of the bills that are still pending.
Five economic groups The Federation of Korean Industries, the Korea Chamber of
Commerce and Industry, the Korea Employers Federation, the Korea International
Trade Association, and the Korea Federation of Small and Medium Business ?? held
a joint press conference and insisted that the legislators pass several
economy-related bills. The move by the business groups was made as the lawmakers
have avoided their most basic role, passing bills, and instead hold back economic
recovery.
Most of the bills that the business community is urging be handled with haste are
legislation the opposition party has been protesting against.
The free trade agreement with the United States, revised bank legislation, fair
trade act and media-related laws are bills that the opposition parties have
labeled as Lee Myung-bak???s ???evil laws.???
At the press conference, the business community explained in detail why these
bills must be passed in the Assembly in order to overcome the economic crisis.
The opposition parties oppose the laws on idealistic grounds. They say the free
trade ratification would humiliate the nation, the bank and fair trade regulation
is a handout for conglomerates, and the media law revision would give
conglomerates control over broadcasting.
But the situation needs to be re-examined. In these tough times, what can save
the economy and who will create jobs for young people and the lower-income
classes by expanding investment and starting new businesses?
The answer is private businesses, particularly conglomerates. No matter how
???evil??? the conglomerates and the Lee Myung-bak administration may seem to
people, we should give them the opportunity to save the economy by increasing
investment and creating jobs.
At a time when we need the business community to save the economy, we don???t
have the luxury of holding them by the ankles for the sake of pure political
calculation.
The opposition parties should at least try to avoid the criticism that big
business is the reason why the country has failed to overcome the economic
crisis.
(END)