0250 GMT August 18, 2018
In a meeting with Shinsegae Vice Chairman Chung Yong-jin and top executives of affiliates of the business group in Hanam, just southeast of Seoul, Finance Minister Kim Dong-yeon stressed the importance of cooperation between the private sector and the government to usher in innovative growth, according to Yonhap.
In September 2016, Shinsegae Group opened the country's largest shopping complex in Hanam.
The Moon Jae-in government is preaching growth centered on innovation, which it claims will help Asia's fourth-largest economy secure potential growth and allow for sustainable expansion that can benefit everyone.
"We, as a retailer, always have a sense crisis, not only because of the uncertainties surrounding the economic environment but also because our consumers are quickly changing in keeping with the rapid growth of mobile shopping, overseas direct purchases and the increase in the number of single-person households," Chung said.
"Not only for the sake of our growth but also for the national economy, I believe that innovative growth centered on business groups is essential," he said.