Independent presidential candidate Ahn Cheol-soo announced Friday that he will set up a presidential committee for reforming the country’s family owned-conglomerates, known as chaebol.

In a press release, Ahn’s campaign advisers said that the independent candidate plans to establish a presidential committee for overseeing related measures in order to implement “comprehensive and systematic” conglomerate reform.

“Chaebol’s influence is expanding, but effective responses have been lacking due to the absence of a command tower to oversee chaebol-related policies,” the statement said.

The committee, he said, will give related efforts more drive and change the current economic system that is dominated by large companies to boost “freedom and creativity, and harmony between large companies and small- and medium-sized enterprises” to achieve economic democratization and balanced growth.

According to the plans, the committee will be put in control of all related measures that are currently being handled by different government ministries. The committee will also be able to request concerned government bodies to implement the measures, and to suggest the legislation of relevant policies.

Ahn also plans to make necessary changes to related regulations within a year of being elected as president, and make public reports on an annual basis.

Ahn had hinted at plans to take a more direct approach to inducing large companies to become more responsible with regards to shared growth.

Talking with overseas Koreans in an online event held earlier in the day, Ahn hinted at introducing incentives and penalties to encourage large companies to become more socially responsible.

“Large companies need to transform themselves into corporate organizations that fulfill social responsibilities,” Ahn said.

“Issues such as providing various incentives or applying legal measures when (socially responsible activities) are disregarded, need to be reviewed comprehensively.”

Ahn also said that ways to provide benefits to large companies which do not move production facilities overseas and those that switch to local suppliers also need to be considered.

By Choi He-suk (cheesuk@heraldcorp.com)