Park Young-sun "Thankful for Participation in Salary Return"... 11 Agencies Under the Ministry of SMEs and Startups
[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 31st that 11 public institutions under its jurisdiction will actively participate in salary returns to overcome the damage caused by the novel coronavirus infection (COVID-19).
The 11 public institutions under the Ministry of SMEs and Startups decided to return salaries this time to support small and medium-sized enterprises (SMEs) and small business owners affected by COVID-19 and to fulfill their social responsibilities. Accordingly, the heads of the institutions will return 30% of their salaries for four months, and executives will return 10% of their salaries. There are some differences depending on the institution.
The participating public institutions are the Small and Medium Business Corporation, Korea Technology Finance Corporation, Small Enterprise and Market Service, Korea Institute of Startup & Entrepreneurship Development, Korea Institute for Advancement of Technology, Korea SMEs and Startups Agency, Korea Credit Guarantee Fund Central Association, Korea Venture Investment Corp., Korea Federation of SMEs Distribution Center, Gongyoung Home Shopping, and Korea Disabled Enterprise Comprehensive Support Center.
The funds raised through this salary return will be used to support affected small business owners. In particular, the funds will be used for financial support for small business owners or to promote virtuous consumption through donations of Onnuri gift certificates, providing practical help to affected companies.
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Park Young-sun, Minister of SMEs and Startups, said, "I would like to express my gratitude to the affiliated institutions that participated in this salary return to support those struggling due to COVID-19," adding, "The Ministry of SMEs and Startups will also do its best to support affected companies through prompt financial support and the spread of good companies and good landlords movements."
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