Trade, Industry and Energy Minister Paik Un-gyu has promised active deregulation efforts for conglomerates. 

Paik gave his assurance in a meeting with the CEOs of the top 12 domestic companies at a Seoul hotel on Monday, where they discussed measures to boost corporate investment and create jobs. 

In his first exclusive meeting with the heads of large firms since his inauguration a year ago, Paik emphasized entrepreneurs’ role in achieving the government’s initiatives to boost investment and job creation, promising that the ministry will become a “ministry for enterprise.” 

An official of the ministry told reporters that it had hitherto focused on creating the proper industrial ecosystems, but now is the time to emphasize conglomerates’ roles in strengthening each industry’s competitiveness.