[21st General Election] SMEs "The National Assembly Must Improve Excessive Labor and Environmental Regulations"

Headquarters of the Korea Federation of Small and Medium Business

[Asia Economy Reporter Kim Daeseop] The small and medium-sized enterprises (SME) sector emphasized the role of "reviving the economy" to the 21st National Assembly. In particular, they requested active efforts to improve labor and environmental regulations.

The Korea Federation of SMEs congratulated the elected members of the 21st National Assembly, who were chosen by the people, through an election commentary on the 15th, stating, "We extend our congratulations to the elected members of the 21st National Assembly chosen by the people," and added, "We hope you fulfill your role as servants who put the nation and its people first."

The Federation stressed that the 21st National Assembly should unite public opinion to overcome the crisis caused by the novel coronavirus infection (COVID-19).

The SME sector said, "The 21st National Assembly must unite the divided public opinion from the election process to overcome the immediate COVID-19 crisis and revive the economy through bipartisan cooperation," and added, "In particular, we expect active efforts to create a fair economic ecosystem between large corporations and SMEs so that small business owners can enthusiastically increase investments and create jobs, and to improve excessive labor and environmental regulations that constrain businesses."

The Federation urged active communication with the SME sector during the legislative process.

The SME sector stated, "A rapid change in the business paradigm is expected after COVID-19," and said, "The 3.6 million SMEs hope that the 21st National Assembly will become an 'economic assembly' and an 'SME assembly'." They also emphasized, "We hope that the 20th National Assembly, whose term ends on the 29th of next month, will promptly pass economic revitalization-related bills such as supplementary legislation on the expansion of flexible working hours to conclude its term successfully."

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