The concept of economic democratization remains as elusive as ever. The vagueness of the concept lies at the center of the ongoing controversy over the proposals under discussion at the National Assembly to promote economic democracy.

Some of the proposals have triggered a strong backlash from big business groups as they call for penalizing related-party transactions, a practice prevalent among chaebol groups.

For instance, one idea proposes to hold a chaebol chairman accountable, even if there is no evidence of his involvement, when his group units are found to have offered sweet deals to a company which is under the control of his family members.

Another proposal, if enacted, would ban a large corporation from telling its subcontractors to lower the prices of their products and services ― even when it is operating in the red or in need of downsizing.

These proposals led President Park Geun-hye to weigh in. She expressed concern on Monday, saying that “economic democratization is not about simply suppressing companies, small or large.”

She also expressed her disapproval by noting that these radical proposals were not included in her campaign pledges.

Park’s remarks were interpreted as signaling that the ruling Saenuri Party would put the economic democratization bills on the back burner as they could scare big business groups and discourage investment.

Yet Park reaffirmed her commitment to economic democratization the next day by saying that she would push for legislation as she had promised on the campaign trail.

Sensing that her remarks have fueled confusion, Park sought to clarify her stance on Wednesday. She told Saenuri members on the National Policy Committee of the legislature that “economic democratization is about making the market fair by eliminating unfair practices.”

Park’s point is that in a fair market, an economic agent ― be it a big business, a small firm or a microenterprise ― is rewarded if it works hard. But in Korea, this has not been the case thus far because of unfair market practices. Economic democratization is about correcting this situation.

Park’s explanation is clear and leaves little room for misunderstanding. Yet when it comes to specific measures to make the market fair, it is not a useful guideline.

Park obviously wants lawmakers to stay within the bounds of her campaign promises. Yet some Saenuri Party lawmakers refuse to fall into line.

Furthermore, the main opposition Democratic United Party, which is more hostile toward big businesses, criticizes Park for attempting to meddle in the legislative process.

To minimize confusion, lawmakers of the ruling party need to build a consensus among themselves first before confronting their DUP counterparts.