SMEs Urge Minister of Trade, Industry and Energy to Continue Enhancing SoBuJang Policies (Comprehensive)

Kim Ki-moon, President of the Korea Federation of Small and Medium Business (right in the photo), is giving a greeting at a meeting with small and medium business owners hosted by Sung Yun-mo, Minister of Trade, Industry and Energy (left), held on the afternoon of the 30th at the Korea Federation of Small and Medium Business in Yeouido, Seoul. Photo by Yonhap News

[Asia Economy Reporter Moon Hyewon] Kim Gi-moon, Chairman of the Korea Federation of SMEs, emphasized on the 30th that “government policy supplements to strengthen the materials, parts, and equipment (hereafter, SoBuJang) industry must continue.”

At the ‘Meeting with Small and Medium Enterprise Representatives Invited by the Minister of Trade, Industry and Energy’ held at the Federation of SMEs in Yeouido, Seoul, in the afternoon, Chairman Kim said, “I appreciate the efforts of SMEs and the government for the self-reliance of the SoBuJang industry in response to Japan’s export regulations,” adding, “Demand and supply companies, the government, and related organizations must all maintain steady momentum without being obsessed with short-term results.”

He continued, “Please supplement many policy gaps so that SMEs can respond well as innovation agents in the era of the 4th Industrial Revolution.”

About 30 SME representatives attended the meeting, including Kim Jung-tae, Chairman of the MainBiz Association, Jeon Hyun-kyung, Chairwoman of the IT Women Entrepreneurs Association, members of the SME Council, as well as the chairpersons of the Federation such as Kwon Hyuk-hong, Chairman of the Korea Paper Industry Cooperative, and Bae Jo-ung, Chairman of the Korea Ready-Mixed Concrete Industry Cooperative Federation.

They conveyed various voices from the field focusing on 35 pending issues in the fields of industrial policy, SME support, standards and certification, and energy.

In the fields of industrial policy and SME support, they proposed ▲activation of win-win cooperative technology development in the materials, parts, and equipment sector ▲expansion of CEPA countries to support SME overseas expansion ▲support for classification of raw material recycling industry as manufacturing ▲establishment of specialized training institutions for skilled workers in the root industry ▲expansion of large corporations’ purchase of SME products in the domestic same industry.

In the standards and certification field, proposals included ▲increased corporate burden due to simultaneous audit and testing by KS certification bodies ▲establishment of a foundation for activating service group standards ▲legal grounds for designating a dedicated agency for group standards work ▲expansion of mutual cross-approval systems such as overseas safety certification and patents.

In the energy sector, requests included ▲relaxation of registration standards for specialized mining reclamation operators in operating mines ▲improvement of post-settlement practices by oil refiners ▲introduction of electricity rate plans dedicated to SMEs and mid-sized companies ▲support for the small LPG industry due to the spread of LNG supply in Jeju Island.

Minister of Trade, Industry and Energy Sung Yun-mo said, “We will establish an unwavering industrial structure through stabilizing the supply of 100 core SoBuJang items and discovering and supporting cooperation models between demand and supply companies,” adding, “We will operate a full support system to turn exports positive in the first quarter and improve export structure so that SMEs can grow as a main force in our exports.”

Meanwhile, regarding the novel coronavirus infection (Wuhan pneumonia), he said, “Difficulties such as export slumps due to the novel coronavirus are approaching, so the government and the private sector must join forces to overcome them,” adding, “We will actively strive so that SMEs can be at the center of export recovery.”

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