The remarks by Kim, a longtime activist for shareholders’ rights, has ignited criticism from Korea’s IT industry pioneers, including Lee Jae-woong, who founded Korea’s second-largest portal website Daum Communications, and Ahn Cheol-soo, the founder of Korea’s largest antivirus software company AhnLab and chairman of the People’s Party.

The Daum founder said in a public Facebook post Sunday that the FTC chief was “insolent” in characterizing the Naver founder who had “singlehandedly built Korea and Japan’s biggest IT companies without any government help” in such a way.

Following media attention, Lee Jae-woong changed his wording to describe Kim’s remarks as “inappropriate,” explaining that he had viewed Kim’s remarks as unbefitting for a minister-level government figure.

Ahn, an IT entrepreneur-turned-politician, joined in criticism of the FTC chairman during a National Assembly meeting Monday, stating that “Kim derided the Naver founder while flattering President Moon Jae-in as being similar to Steve Jobs.”

Ahn further lashed out at the government for continuing its long-held practice of “looking down on corporations.” He said that Korea is no longer in an age where businesses are under the leadership of the state, asking the government to form a foundation that encourages free and fair competition among businesses.

In response to the comments, the FTC chairman officially apologized for his remarks involving the Naver founder on Monday, stating that he “humbly accepts the criticisms with a heavy heart.”

“I will be more cautious in what I say as a public official and concentrate on my main duty to foster fair competition in the market and to protect the rights of small, marginalized businesses,” Kim said during a meeting with local business leaders at the FTC headquarters in Sejong City.

The controversy came as the FTC and Naver have been at odds over the company’s status change into a large corporation with an owner who exercises sizeable influence over the company.