<기사제목>Korea Federation of SMEs and Korean Confederation of Trade Unions Agree to Cooperate on Improving Unfair Trade Practices by Large Corporations

Kim Dong-myeong, newly appointed chairman of the Federation of Korean Trade Unions. Photo by Yonhap News

[Asia Economy Reporter Moon Hyewon] On the 12th, Kim Gi-moon, Chairman of the Korea Federation of SMEs, met with Kim Dong-myeong, the newly appointed Chairman of the Korean Confederation of Trade Unions (KCTU), at the Korea Federation of SMEs in Yeouido to jointly cooperate on improving unfair trade practices by large corporations and fostering a culture of mutual growth to reduce the gap between large and small-to-medium enterprises (SMEs).

The meeting between the two heads was held following their mutual agreement last year on the need to address unfair trade and profit monopolization issues by large corporations to reduce wage disparities between large and SMEs. It took place after Chairman Kim Dong-myeong began his term on the 28th of last month, aiming to promote specific cooperative projects with the new executive team.

Chairman Kim said, “It is unprecedented for employer and labor organizations to jointly cooperate to eradicate unfair trade practices by large corporations. We will work together with the KCTU to correct unfair practices such as unreasonable delivery prices by large corporations to expand the payment capacity of SMEs.”

Chairman Kim Dong-myeong stated, “Resolving unfair trade is the most fundamental step toward alleviating polarization and achieving economic democracy. If the KCTU and the Korea Federation of SMEs find areas to collaborate and make joint efforts, we can achieve good results. This is why I was the first among employer organizations to visit the Korea Federation of SMEs after starting my term.”

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