Mid-sized Company CEOs Criticize 20th National Assembly, Saying "They Did Poorly"

National Assembly Building/Photo by Asia Economy DB

[Asia Economy Reporter Moon Hyewon] Domestic small and medium-sized enterprise (SME) CEOs believe that the 20th National Assembly has “not done well” in fostering SMEs over the past four years.

According to a survey conducted by the Korea Federation of SMEs from the 14th to the 20th among 500 SME CEOs evaluating the past four years of the current 20th National Assembly from the perspective of SME development, 47.4% responded negatively, saying it “did not do well” (30.0% said “very poorly” + 17.4% said “somewhat poorly”). This negative evaluation was predominant. Following 44.6% who said it was “average,” only 8.0% responded that it “did well.”

As the ideal image of the 21st National Assembly to be elected this April, “a National Assembly that revitalizes the economy” (47.2%) was selected most frequently. This was followed by “a National Assembly that prioritizes people’s livelihood” (27.6%), “a responsible National Assembly” (8.6%), and “a National Assembly that abides by the law” (8.4%).

Regarding the desirable qualities of members of the 21st National Assembly, “a member who proposes sound policies” (31.2%) was chosen most often, followed by “a member who maintains their convictions despite party differences” (20.0%), “an honest and upright member” (18.4%), and “a member who communicates with the people” (16.6%).

The top priority economic policy for SMEs that the 21st National Assembly should pursue was “deregulation” (43.2%). This was followed by “win-win cooperation between large and small-medium enterprises” (42.6%), “activation of investment” (35.0%), and “supplementing the implementation of minimum wage increases and reduction of working hours” (33.6%).

Kim Kyungman, Head of the Economic Policy Division at the Korea Federation of SMEs, said, “Through this survey, SME CEOs responded that their expectations for the 21st National Assembly are not high, but they hope for a National Assembly that revitalizes the economy. Given the challenging business environment for SMEs, we earnestly hope that the new National Assembly will embody the spirit of ‘Jipsagwangik’ (serving the public good), resolve policy tasks for SMEs and small business owners such as deregulation and win-win cooperation between large and small-medium enterprises, and ultimately become a National Assembly that revitalizes our country’s economy.”

This content was produced with the assistance of AI translation services.