Junggi Joonganghoe Conveys Key SME Legislative Tasks to Speaker Moon

Photo by Asia Economy DB

[Asia Economy Reporter Moon Hye-won] The Korea Federation of Small and Medium Business (KSMB) met with National Assembly Speaker Moon Hee-sang on the 6th to convey the key legislative tasks of the small and medium business sector.

On the same day, at the 'Small and Medium Business Luncheon Meeting' hosted by Speaker Moon Hee-sang at Sarangjae in Yeouido, Seoul, KSMB delivered 10 major legislative tasks related to small and medium enterprises.

The legislative tasks included ▲ revitalization of the payment adjustment system and strengthening sanctions against technology theft ▲ recognition of cooperative associations as small and medium business entities ▲ differentiated application of minimum wage by industry and scale considering payment capacity ▲ legislative supplementation in preparation for reduced working hours for small and medium enterprises ▲ expansion of special tax exemption system for business succession gift tax, among others.

At the meeting, seven people including Speaker Moon, Lee Ki-woo, Chief Secretary to the Speaker, Lee Gye-seong, Senior Secretary for Political Affairs, and Choi Kwang-pil, Senior Secretary for Policy, attended from the National Assembly, while nine people including KSMB Chairman Kim Ki-moon and Senior Vice Chairmen Seo Byung-moon and Kwon Hyuk-hong participated from the Federation.

Chairman Kim said, “In a situation where the economic sentiment of small business owners and small and medium enterprises is becoming increasingly difficult due to the recent spread of the novel coronavirus and prolonged domestic demand slump, the agreement by the ruling and opposition parties to hold a February extraordinary session to resolve the livelihood economy gives hope to the people,” and “I ask for cooperation so that economic-related bills reflecting the demands of the small and medium business field can pass the National Assembly promptly, allowing small and medium enterprises to have hope and focus solely on management.”

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