Ruling Party,Government to Promote Tripartite Agreement

The Ruling Uri Party Chairman Lee Boo-young and Prime Minister Lee Hae-chan made an agreement at luncheon meeting on August 24 to collaborate on Tripartite Agreement for employment creation and investment revitalization.

Accordingly, the executive members of the Uri Party have scheduled a meeting on August 25 to discuss the establishment of the Tripartite Agreement Committee and to finish the selection of committee members.

During this day’s meeting, chairman Lee stated, “Repetitive labor strikes may cause negative effects on understanding of foreign investments and entrepreneurs. We have to advertise actively for inducing foreign investment and making a good model for Tripartite Agreement will give them stability in their investment.”

Prime Minister Lee Hae-chan also stated that, “The government has long been aware of this problem and has put much thought to the subject. He also added about tax reductions request, “However, tax reductions will occur financial burden, which result in increasing national debt. Thus, the government plans to use its pension funds to stimulate the stock market and submit bills to the National Assembly to promote sound investments.”

And Prime Minister Lee stressed regarding Public servants union, saying that “Civil servants must remember that they carry responsibilities since they have been guaranteed retirement age. Any illegal union activity will not be allowed.”

Young-Chan Yoon yyc11@donga.com