FCA Calls for President-Elect Yoon’s Regulatory Reform and Expansion of Investments
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FCA Calls for President-Elect Yoon’s Regulatory Reform and Expansion of Investments
Issues statement on the election of President-elect Yoon as 20th president

26(Thu), May, 2022

Chairman Kim Sang-soo of the Federation of Construction Association (FCA) and other construction organization heads pose with officials with the Central Electioneering Headquarters for People Power Party candidate Yoon Suk-yeol after they had a meeting at the Construction Hall in Nonhyeon-dong, Gannam-gu, Seoul, on Feb. 11. (Photo: FCA)

The Federation of Construction Association (FCA), welcoming the election of Yoon Suk-yeol, a presidential candidate of the People Power Party, demanded regulatory reform and the expansion of investments on March 10.

FCA issued a statement on the election of President-elect Yoon as the 20th president in which it said, “President-elect Yoon, citing regulatory reform for companies, has stressed keynotes of policies different from the past governments.” 

FCA said President-elect Yoon has suggested the private sector-oriented job creation through the growth of businesses and a policy vision of invigorating companies’ investments through regulatory reform, by a regulatory reform institution. 

FCA expressed hope that President-elect Yoon’s policy keynotes will lead to drastic regulatory reform to create an environment in which the construction industry can do business. 

FCA said it had no doubt the next government would conduct an overall review of a variety of restrictions designed only to impose punishment, such as old legal systems out of sync with industrial structures, and trade unions indulging in so-called reckless demands related to the employment of unionists.

The federation expressed hope that the new government would expand SOC investments to ramp up national competitiveness and improve balanced development between provincial regions and the Seoul metropolitan area, stabilize the housing market by taking steps to ease diverse restrictions to ensure abundant housing supply in cities, and make Korea a nation in, which all people can enjoy happiness. 

It said the construction industry will not only create jobs by concentrating on management activities with a conviction and devote itself to making the construction industry play a pivotal role in growth of the nation and contributing to the success of the President Yoon government.

CAK Recommends Institutional Reform to Boost PPP Projects

The Construction Association of Korea (CAK) made a proposal on institutional reform to boost the private sector’s investments that civilians can lead economic recovery to the Ministry of Economy and Finance on March 30.

CAK said now is a period necessary for the private sector’s aggressive roles to solidify economic recovery and improve people’s livelihood such as job creation and income recovery amid the worsening of recent outside and inside economic conditions. 

In order to create an environment to invigorate PPP projects, CAK said it is urgently necessary to set guidelines on the improvement of old existing infrastructure so that the boosting of government-noticed projects and diverse types of projects can be pushed. 

In order to create an environment to boost new types of projects coupled with the introduction of a negative system, it said it is necessary to introduce a negative system on subsidiary projects and expand competence survey institutions to specialized entities. 

That would create an environment to speed up the implementation of projects suggested by the private sector. 

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