Finance Minister Kim Dong-yeon has called on Samsung to cooperate on the government’s efforts to improve local companies’ corporate structure and their business practices.  

Kim told reporters that he made the request to Samsung Electronics Vice Chairman Lee Jae-yong during their meeting in Pyeongtaek, Gyeonggi Province on Monday. 

Kim said that he also asked Samsung to play a leading role in cooperation between the nation’s conglomerates and contractors, small- and mid-sized enterprises and startups as well as in creating future growth engines for the country. 

Before the meeting, the minister said the South Korean economy is at a critical juncture and emphasized Samsung’s role in it. 

Lee also asked the government to ease regulations on the biotechnology industry, while making some unrevealed proposals regarding the supply of electricity in new semiconductor assembly lines at Samsung's Pyeongtaek plants as well as foreign investment in the company. 

Before the meeting, Samsung was expected to announce a new plan regarding investment or employment, but no such plan immediately followed. 

A Samsung official told KBS by phone that the company does have a new investment plan, adding it will be announced as early as Wednesday or next week.