Link to the original article :
https://www.koreatimes.co.kr/www/tech/2025/04/129_395614.html?na
'End to turmoil urgently needed to recover global competitiveness’By Ko Dong-hwanThe country's business lobby groups have called on the nation to focus on economic recovery, with the Constitutional Court's decision on Friday to impeach former President Yoon Suk Yeol alleviating much of the political uncertainty.
The groups expressed respect for the ruling and emphasized that the country should swiftly mobilize efforts to strengthen the national economy and overcome global trade challenges. They also hoped that the national concerns and deep public division sparked by Yoon’s martial law declaration on Dec. 3 would be resolved soon.
The Korea Chamber of Commerce and Industry (KCCI) stressed the urgency of focusing on the economy. It said that the country is currently facing "slumping domestic consumption, declining global competitiveness in key industries, tariff measures imposed by the Donald Trump administration and rising trade protectionism worldwide."
“Considering these, it’s now time to overcome the internal dispute, start normalizing the government’s administration, recover [the] economy and stabilize the nation,” the KCCI said. “We’ll not spare efforts for the country’s sustainable economic growth.”
The Federation of Korean Industries (FKI) also highlighted the challenges facing the national economy and urged domestic businesses to take decisive action.
“Amid the global industry's major shift, Korea faces [a] worsening commerce environment, underperformance by key domestic industries and slumping domestic consumption,” FKI said. “It’s now time to focus all efforts on recovering the country's industries and local businesses. The FKI will fulfill its duties on active investment and hiring.”
The Korea Enterprises Federation (KEF) said companies in the country should now strive together to strengthen the country’s economy.
“All economic entities, whether management or workers, must fulfill their duties and unite to improve the country’s economy,” KEF said in a statement.
It requested the government and the National Assembly to “show nonpartisan leadership to promptly end the public's confusion and division that are expected following a president’s absence in the country.”
The Korea Federation of SMEs also called for an end to public division and urged the nation to unite and strengthen its economy to compete globally.
“Korea, with the global economy undergoing a rigorous change, now faces a serious problem of tardy economic growth. Not just the country’s key industries but future advanced industries are also under threat due to global protectionism sparked by the U.S. and rising global market dominance by big Chinese companies,” the organization said.
“Now the country should mend the political standoff and gather force to overcome hurdles facing the national economy.”
Foreign chambers of commerce also said they respect the court's decision.
“AMCHAM respects the Constitutional Court’s decision and remains confident in Korea’s robust democratic institutions and commitment to the rule of law," the American Chamber of Commerce in Korea (AMCHAM) said in a statement.
"We believe this moment of transition is an opportunity to reaffirm political stability, bolster economic resilience, and strengthen global investor confidence. AMCHAM stands ready to work closely with both the government and private sector to further advance the U.S.-Korea economic partnership and drive sustainable, forward-looking growth.”
The Korea-German Chamber of Commerce and Industry (KGCCI) said that Korea will remain Germany’s strong trade partner.
“We respect the Constitutional Court’s ruling and commend Korea’s steadfast commitment to democratic principles and the rule of law," the KGCCI told The Korea Times. "We trust in the country’s resilience and stability, and remain committed to fostering strong Korean-German economic ties throughout this transition."
