Korea Federation of SMEs Hosts Dialogue with Deputy Prime Minister Choi Sang-mok
Challenging Times for SMEs due to Economic Uncertainty
Need for a One-stop Platform to address SME Issues
Kim Ki-moon, Chairman of the Korea Federation of SMEs (right), speaks at a meeting of small business representatives, attended by Deputy Prime Minister Choi Sang-mok (left), held in Yeouido, Seoul, on the 26th. The meeting was provided by the Korea Federation of SMEs.
[Financial News] “Government departments need to communicate closely with the SME field,” said Kim Ki-moon, Chairman of the Korea Federation of SMEs.
On the 26th, the Korea Federation of SMEs held a “Dialogue with Deputy Prime Minister Choi Sang-mok” at its Yeouido office in Seoul. The event was jointly organized with the Ministry of Strategy and Finance to share the achievements of the SME Express initiative and discuss the current challenges faced by SMEs and small business owners.
Participants from the Ministry of Strategy and Finance included Deputy Prime Minister Choi Sang-mok, Assistant Minister Yoon In-dae, and Policy Coordination Director Kang Ki-ryong. The Ministry of SMEs and Startups was represented by Planning and Coordination Officer Lee Dae-hee. From the SME sector, participants included Korea Federation of SMEs Chairman Kim Ki-moon, Korean Women Entrepreneurs Association Chairwoman Lee Jeong-han, Korea Self-Employed Federation Chairman Song Chi-young, and Korea Venture Capital Association Chairman Yoon Geon-soo, among others, totaling about 40 attendees.
Chu Moon-gap, Director of the Economic Policy Division at the Korea Federation of SMEs, revealed in a report on “Public-Private Joint Efforts to Resolve SME Challenges and Regulatory Innovation” that “thanks to the government’s efforts, 25 out of the 100 field regulations selected by SMEs have been reflected,” adding, “We plan to establish and operate an SME Express hotline with the government to quickly address SME challenges.”
During subsequent discussions, issues such as the prompt passage of the temporary investment tax credit extension bill and tax burden relief for small enterprises and the self-employed under the Yellow Umbrella Mutual Aid system were deliberated.
Chairman Kim Ki-moon remarked, “With increasing economic uncertainty, SMEs as well as small business owners and the self-employed are facing tough times. We hope government departments will closely communicate with the field. We urge thorough follow-up management to ensure that the SME Express hotline, jointly operated by the Korea Federation of SMEs and the Ministry of Strategy and Finance, becomes a one-stop platform where field challenges can be promptly communicated and resolved by the government.”