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| President Yoon Suk Yeol speaks during a Cabinet meeting at the presidential office in Seoul, Jan. 25. Yonhap |
President Yoon Suk Yeol called Wednesday for adjusting the country's regulatory and labor systems to global standards, saying such adjustments are essential to ensure competitiveness in the world.
Yoon made the remark during a Cabinet meeting, days after returning from the United Arab Emirates, where he bagged a $30 billion investment pledge, and from Switzerland, where he met with CEOs of multinational companies and asked them to invest in Korea.
"In my meeting with the global CEOs, I stated the commitment of our government that is creating an environment where it feels safe to invest and asked for their active investment in Korea," the president said.
"What's most important is that we adjust our country's systems to global standards. If we don't do that, we cannot survive in the international community. If we do not adjust our systems to global standards in regulations, labor and all such systems, no one will invest in our country, and it will become difficult for our businesses to compete in the international market," he added.
Yoon instructed the government to swiftly implement follow-up measures in line with the UAE's investment pledge.
He also reiterated his promise to work as the "No. 1 salesman of the Republic of Korea" and asked that each Cabinet member apply the same determination to their jobs.
The Republic of Korea is South Korea's official name. (Yonhap)
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