The reports prompted concerns that the liberal president may be trying to keep its distance from business leaders, especially because they came hours after Moon held a special meeting at his own office with some 120 union leaders and company officials to praise them for their co-prosperity campaign.

Cheong Wa Dae has acknowledged the president may miss the new year's meeting with business leaders, to be hosted by the KCCI, but that he plans to invite business leaders to a similar meeting at his office that will also involve leaders of other areas.

"I ask all the chairpersons (of business groups), including KCCI chairman Park Yong-maan, to continue offering great instructions for the good of the business circle and the entire Republic of Korea," Prime Minister Lee told the meeting. "The government too will continue to communicate with you without any disruption."

The prime minister also sought to win their support for government efforts to create more jobs and boost household income.

Lee said the country's per capita income was expected to breach the $30,000 mark in the near future, but that the new feat will also come with three new challenges.

"First, we must continue to grow through innovation and new industries. The second challenge is that we must continue to push for people-oriented, income-led growth because there are many people who do not realize our per capita income is nearing $30,000 and, in fact, many rather feel they are now worse off," he said.

The third requirement is to transform the system to prepare the country for new changes. (Yonhap)