Junggi Junganghoe Launches COVID-19 Small Business Countermeasures Headquarters
Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business. Photo by Korea Federation of Small and Medium Business
View original image[Asia Economy Reporter Moon Hyewon] The Korea Federation of Small and Medium Business (KSMB) announced on the 25th that it has launched the 'COVID-19 Small and Medium Business Countermeasures Headquarters' in response to the escalation of the COVID-19 crisis level to "serious."
The COVID-19 SME Countermeasures Headquarters was established by upgrading the existing emergency response team to strengthen an efficient crisis response system for small and medium enterprises, considering the difficulties in normal business operations and the extreme contraction of consumer sentiment caused by COVID-19.
The Countermeasures Headquarters is led by Seo Seungwon, the full-time vice chairman of KSMB, and is composed of four operational teams: Operations Support Team, Cooperative Team, SME & Small Business Team, and Public Relations Team. Going forward, it will serve as a communication channel to promptly monitor damage situations such as production disruptions due to difficulties in procuring parts from China-based manufacturers, financial difficulties caused by sluggish sales, and export challenges due to the spread of "Korea phobia," and to deliver improvement measures to policy authorities.
From today until the 27th, KSMB will conduct an "Emergency Survey on the Management Status of Small and Medium Enterprises Related to COVID-19" targeting 300 export-import and domestic companies, gathering information on damage caused by COVID-19, difficulties in trade with China, and key support measures that the government should implement.
If government support measures do not align with field conditions or if there are areas requiring system improvements, companies can contact the SME & Small Business Team.
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Kim Ki-moon, chairman of KSMB, said, "In difficult times, we must all unite to overcome the crisis," adding, "We will actively seek and do our best in everything possible to minimize damage to small and medium enterprises and stabilize the economy until COVID-19 is contained."
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