From left, Korea Chamber of Commerce & Industries Chairman Chey Tae-won, Federation of Korean Industries Chairman Huh Chang-soo, Korea Enterprises Federation Chairman Sohn Kyung-shik, and Korea International Trade Association Chairman Koo Ja-yeol

By Kim Hyun-bin

Major business lobby groups are calling on President-elect Yoon Seok-yeol to improve Korea's business environment to encourage companies to expand investments and hire more workers, according to officials Thursday.

"We sincerely congratulate President-elect Yoon Seok-yeol for his victory and earnestly pray that it will lead to the path of economic recovery," Korea Chamber of Commerce & Industry (KCCI) Chairman Chey Tae-won said. "We earnestly hope that the various opinions and conflicts that emerged during the election process will be resolved, and that the nation's capabilities will be united through leadership of unity and harmony, paving the way for the nation's social development and economic recovery."

He also stressed the need to back private businesses that could increase growth and market efficiency amid economic structural changes and growing geopolitical uncertainties. Chey, who is also chairman of SK Group, called for regulatory, labor and education reforms without setbacks to create a better environment fueling business growth.