Park Young-sun "Hyundai Motor Also Expressed Gratitude"... Additional Support of '10,000 Masks' to China (Comprehensive)

Minister Park Young-sun of the Ministry of SMEs and Startups is speaking about active response measures at a briefing on the novel coronavirus held at the Government Seoul Office Building on the 10th.

[Asia Economy Reporter Kim Daeseop] "The number of mask applications from small and medium-sized enterprises (SMEs) operating in China is about 24,000. In addition to the 10,000 masks previously supported, we plan to secure an additional 10,000 masks and send them in a second batch."

Park Young-sun, Minister of SMEs and Startups, said this during a briefing on the spread of the novel coronavirus infection (Wuhan pneumonia) held at the Government Seoul Office on the 10th, adding, "Hyundai Motor Company expressed their gratitude, saying that the masks provided by the Ministry of SMEs and Startups played a significant role in the resumption of operations of Korean auto parts companies in China."

The briefing was organized to discuss the delivery status of relief supplies to local SMEs in China and the sale of masks and hand sanitizers through Gongyoung Home Shopping. Minister Park said, "We received the welcome news that Korean auto parts companies located in Shandong Province, China, have resumed operations," and added, "We are exploring and implementing additional support measures for Korean SMEs in China."

She continued, "The resumption of operations by Korean SMEs in China is directly linked to domestic finished product production and exports. If the private sector and government unite their efforts, we can surely overcome this crisis."

The Ministry of SMEs and Startups previously collaborated with the Korea Federation of SMEs to distribute about 1,600 masks each to five export business incubators (BIs) located in Beijing, Shanghai, Xi'an, Chongqing, and Guangzhou, as well as the Qingdao SME Support Center. Additionally, in cooperation with export-related organizations such as the Korea Export-Import Bank and KOTRA, they are identifying the status of Korean SMEs operating in China and conducting detailed investigations and close monitoring to confirm any difficulties or damages on site.

Concerns are rising not only about the damage to Korean SMEs located in China due to the spread of the novel coronavirus but also about the domestic repercussions. The Ministry has formed a response team for SMEs and small business owners related to the novel coronavirus and is operating damage reception centers at regional SME and Startup Support Offices, the Korea SMEs and Startups Agency, and the Small Enterprise and Market Service.

Through field visits to SMEs and traditional markets, they are listening to the difficulties and suggestions of business owners and small merchants and preparing various countermeasures. They plan to supply 250 billion KRW in emergency funds and special guarantees to SMEs facing difficulties in raw materials and product imports and exports, as well as small merchants suffering from reduced consumption.

Minister Park stated, "We are accelerating policy efforts, including securing contingency funds, to expand support for domestic small merchants."

The Ministry of SMEs and Startups has also decided to urgently schedule sales broadcasts for 1 million masks and 140,000 hand sanitizers through Gongyoung Home Shopping, a public institution under its jurisdiction. This supply measure was prepared in response to mask shortages and price surges caused by the spread of the novel coronavirus.

Choi Chang-hee, CEO of Gongyoung Home Shopping, said at the briefing, "Considering the shortage and price surge of masks and hand sanitizers, we have prepared a sales broadcast plan," adding, "Due to limited stock, purchases will be restricted to one set per customer to allow as many customers as possible to buy."

The quantities of masks and other items for this sales broadcast were secured through joint cooperation between the Ministry of SMEs and Startups and the Ministry of Food and Drug Safety by recruiting and negotiating with more than 40 manufacturers nationwide. The first sale of hand sanitizers will begin on the 17th of this month, followed by mask sales starting on the 19th.

CEO Choi said, "We will conduct the sales broadcast after confirming stock arrival," and added, "We will hold guerrilla broadcasts every 10 minutes and deploy a specialized consultation team targeting customers in their 60s and 70s." He emphasized, "Until stable prices are established, masks and hand sanitizers will be sold at prices including only basic expenses such as shipping. We plan to supply masks at around 1,000 KRW without profit."

Gongyoung Home Shopping plans to actively work on price stabilization through direct mask purchases starting next month. CEO Choi said, "As soon as additional quantities are secured, we will prepare additional broadcasts to allow purchases at prices cheaper than the market."

The Ministry of SMEs and Startups is actively responding to reduce damage from the novel coronavirus. They received 300,000 masks from the Korea Occupational Safety and Health Agency and are distributing them to merchant associations and shopping districts in traditional markets nationwide. As of the 9th, 149,235 masks have been distributed to 829 markets and shopping districts. During the same period, 19,120 hand sanitizers were distributed to 478 markets.

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