The head of South Korea's antitrust watchdog has stressed that the government remains unchanged in its basic policies of income-led growth and chaebol reforms, although it is actively pursuing innovation-led growth lately.

Appearing on a KBS TV program on Sunday, Fair Trade Commission Chairman Kim Sang-jo strongly denied the speculations that the government has recently retreated in its pursuit of fair business practices and reforms of chaebols or conglomerates.

Kim said that the Moon Jae-in government's economic policy is comprised of three major parts – income-led growth, fair competition and innovation-led growth – and that there is no change in the policy although the emphasis could be shifted depending on economic conditions.

He defended that President Moon Jae-in's recent meeting with Samsung Electronics Vice Chairman Lee Jae-yong was part of efforts to boost innovation-led growth and it cannot be seen as a regression of the chaebol reform policy.