The South Korean government has taken a strong stance against the business community's practices of shaping public opinion that serves only a select few, particularly wealthy individuals and conglomerates, following a controversy regarding the Korea Chamber of Commerce and Industry (KCCI). Minister of Trade, Industry and Energy, Kim Jong-kwan, publicly criticized the KCCI for disseminating 'fake news' about the outflow of high-asset individuals due to inheritance tax burdens—citing data from a British consultancy that has been contested for its accuracy. This marks a significant shift in accountability for major economic organizations as they face scrutiny over their influence on national policy debates.

The controversy escalated when President Lee Jae-myung condemned the KCCI's statement as 'deliberate fake news' during a social media update. This followed a report claiming that the number of wealthy individuals leaving South Korea due to inheritance tax was set to double in a year, placing the country fourth in global rankings on the matter. The KCCI's reliance on external estimates to further its agenda prompted a call for legislative examination of inheritance tax systems, indicating a potentially dangerous entanglement between corporate interests and national debate.

The situation has raised concerns over the relationship between economic bodies and governmental accountability, as evidenced by Minister Kim's statement where he apologized to the public on behalf of the KCCI. Simultaneously, the National Tax Service provided counter-data, revealing that the average number of South Koreans reporting overseas relocations was significantly lower than KCCI's figures, underlining the potential consequences of misleading statistics in shaping public perceptions and government policies. This scenario illustrates a critical juncture where governmental oversight on economic organizations may reshape the landscape of public discourse in South Korea.