Deputy Prime Minister cum Minister of Strategy and Finance Kim Dong-yeon, who oversees the nation’s economic policies, met Lee Jae-yong, vice chairman of Samsung Electronics on August 6. This was the deputy prime minister’s fifth meeting with a leader of a major corporation following meetings with the heads of LG, Hyundai Motor Company, SK, and Shinsegae, but the latest meeting drew special attention from the public for Samsung is the largest company in South Korea.

During the meeting, the two men discussed preparations for the future and ways to build trust for investment and for cooperation, particularly for the prosperity of large and smaller businesses alike. Deputy Prime Minister Kim said, "I asked Samsung to make efforts to improve transparency in management and to correct unfair practices." He also said that the two men shared ideas on future investment and employment plans. There can be no exception when it comes to concerns for the future of the South Korean economy. But it is true that the latest meeting stirred controversy. According to one media report, Cheong Wa Dae conveyed its concerns that "It could be seen as the government begging the chaebol to invest capital and hire more workers," to the deputy prime minister ahead of his meeting with Samsung. After all, the conglomerates that had previously met with Kim released investment and employment plans one after the other. There were also concerns about old-fashioned practices carried out in the previous government after the chaebol met with senior government officials, such as the president. When this stirred controversy, Cheong Wa Dae said that such arguments were "unfounded," but it was clear that there was a disagreement with Deputy Prime Minister Kim.

The meetings between Kim and the chaebol could lead to unexpected results despite the good intentions of the deputy prime minister. Kim meeting the chaebol owners while government reforms are still underway could be misleading. It is questionable as to whether the deputy prime minister had to meet the chaebol owners. It is hard to find an answer to the question, "Is it right to meet a chaebol owner, when promoting chaebol reforms?" The government has yet to achieve successful results in reforming the conglomerates, and in this situation, meeting the chaebol owners could send out a signal that there is no hope for reforms. What’s more, Lee Jae-yong is still on trial for his involvement in the abuse of state authority.

The meeting of the two men could be seen as the government granting Lee an indulgence. Government officials can meet with business people to listen to their difficulties and provide support in order to improve the competitiveness of the company. The government can also help companies facing challenges as they compete on the international stage. But listening to the challenges of the companies and reforms are completely different issues. Since the launch of the Moon Jae-in government, no problem concerning the chaebol, such as their murky management structure, expedient inheritance through intra-group transactions, and the gapjil (abuse of underlings by people in power) of the chaebol, has been properly resolved. Intellectuals criticize that the government has failed in making progress in amending key legislation on chaebol reforms. The government must not retreat in reform efforts by relying on the chaebol because of the reducing number of jobs and lack of investment.