• S. Korean Conglomerates Vow To Support Subcontractors Amid Virus Outbreak

Conglomerates promise to support subcontractors amid coronavirus outbreak
Conglomerates promise to support subcontractors amid coronavirus outbreak
South Korea's largest conglomerates have promised to support subcontractors facing difficulties amid the coronavirus outbreak.

According to Cheong Wa Dae on Thursday, President Moon Jae-in met with several local business leaders, including Samsung Electronics Vice Chairman Lee Jae-yong, LG Group Chairman Koo Gwang-mo, SK Group Chairman Chey Tae-won and Hyundai Motor Vice Chairman Yoon Yeo-chul, to discuss ways to minimize the virus' impact on the economy.

During the meeting, Lee, the de facto head of Samsung Group, promised to take painstaking measures for "substantive support," and said his will seek to create more jobs and expand innovation-based investments.

He also requested the government temporarily relax restrictions related to the 52-hour workweek system.

SK Group chief Chey called on the government to help keep air cargo flights between South Korea and China intact despite virus fears.

Chey said if they are halted, it would derail semiconductor wafer production.

He also vowed all efforts to also boost investment and job creation.■

<Photo: Yonhap News>
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