[Deputy Editor's Column] General Election D-1: The Vote of 'Jungso Enterprises and Sosang Entrepreneurs'

[Asia Economy Kim Daeseop, Deputy Director of the Ministry of SMEs and Startups] The 21st National Assembly election is just one day away. This election is of greater interest than ever from the perspective of small and medium-sized enterprises (SMEs) and small business owners. Due to the spread of the novel coronavirus infection (COVID-19), which has caused significant difficulties in business activities, changes in support measures for SMEs and small business owners are expected depending on the election results.

In particular, several experts who have long been active in the industry, such as Kim Kyungman, former Head of Economic Policy at the Korea Federation of SMEs, Han Mookyung, former President of the Korea Women Entrepreneurs Association, and Choi Seungjae, former President of the Korea Federation of Small and Medium Business, have been listed as proportional representation candidates for both ruling and opposition parties. This is why the industry’s interest is gathering more attention.

It is encouraging that many experts from the SME and small business sectors have registered as candidates in this general election. The role and importance of field experts in SMEs and small business owners, as seen by each political party, are growing.

SMEs and small business owners have a very significant impact on Korea’s industry and economy. They serve as the backbone of the regional economy. Conversely, if SMEs and small business owners collapse, a serious national crisis could occur. This is the same reason why nationwide measures to support SMEs and small business owners are being implemented to overcome the COVID-19 crisis.

The damage to SMEs and small business owners is increasing due to the spread of COVID-19. Countless SMEs and small business owners are suffering setbacks in their business activities. The situation is very serious. In particular, even after overcoming the COVID-19 crisis, concerns remain that economic recession and reduced consumption will continue, so the anxiety among SMEs and small business owners persists. It is an emergency economic situation.

The SME and small business sectors are emphasizing to the government and the National Assembly the necessity of coexistence between large and small businesses, establishment of a fair economy, and revitalization of small business owners to restore the grassroots economy. Policy tasks for the 21st general election containing these points have been delivered to both ruling and opposition parties.

The outcome of the 21st National Assembly election is uncertain. However, we hope that it will be an opportunity to create a genuine 'SME and Small Business National Assembly' with good policies that SMEs and small business owners can relate to. In particular, the determination and mindset of the SME and small business candidates who may enter the National Assembly are important. They must not lose sight of their original intention of why they wanted to become members of the National Assembly.

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