Park to host lunch for top 10 chaebol chiefs next week

SEOUL, Aug. 23 (Yonhap) -- President Park Geun-hye plans to host a lunch for the chiefs of the country's top 10 business conglomerates next week to hear their views on how to revitalize investment and create jobs, her spokeswoman said Friday.

The lunch, slated for Wednesday, would mark the first time Park has invited the top 10 chaebol heads to Cheong Wa Dae, though she held breakfast meetings with accompanying business leaders during her trips to the United States and China earlier this year.

Park plans to use the meeting to "listen broadly to views of the business circles about investment revitalization, job creation and creative economy," presidential spokeswoman Kim Haing said.

Creative economy refers to an economic growth strategy Park has pushed for. It calls for creating new business opportunities, industries and jobs through the fusion of information and communication technology, culture and other realms.

The participating conglomerates will be Samsung, Hyundai-Kia Automotive Group, SK, LG, Lotte, Hyundai Heavy Industries, GS, Hanjin, Hanwha and Doosan. Officials said POSCO was excluded as the planned meeting is for purely private conglomerates.

The business leaders are expected to express their objections to a government-proposed revision of the Commercial Act that calls, among other things, for limiting the voting power of the largest shareholder to 3 percent when electing an auditor member of the board.

On the following day on Thursday, Park plans to hold a similar lunch meeting with about 30 chiefs of midsized businesses, Kim said.

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