earticle

영어

The free and fair market economy is fundamentally based on the economic freedom of people and companies. This is a basic frame to emphasize the market function and to aim at free and fair competition in the market.
There are various opinions on the market. On the one hand, people criticize the market as a origin of labor abuse and poverty, so market needs governmental intervention. On the other hand, they praise it as a source of freedom and prosperity.
However, we have empirically experienced Korean economy made a great successful story of growth led by the government. And considering the nature of the Korean market, the government deeply involved in the country's economic development through intervention in the market.
Corporation is one of the most important elements in the market. In order to promote favorable environments for corporations and establish market oriented economy, excessive governmental regulations and unnecessary interventions should be decreased. Without reforms in governmental regulations, it is difficult to achieve democracy and market economy to the level of advanced countries.