President Moon Jae-in has stressed the need to realize a "fair economy" and vowed the government's utmost efforts to achieve that goal.
Moon made the remark on Friday during a fair economy strategy meeting at the Convention and Exhibition Center in southern Seoul.
The meeting of the government, the presidential office, party officials and civilians was organized to discuss future policies for a fair economy and publicize the government's achievements in the area.
The president said that the nation should make fairness the root of the economy, calling for changes in perceiving cooperation between large and small firms as a favor dispensed by conglomerates to small firms.
Moon said the nation has achieved economic power, but fairness was lost in the process, with the fruits concentrated on conglomerates.
He said the government has taken a series of steps to create fair business practices, but there is still a long way to go to realize a fair economy and economic democracy. However, he added the government is doing its best to create a new economic order.