<중기중앙회, 산업부와 '중기 제품 구매촉진' 업무협약> Korea Federation of SMEs and Ministry of Trade, Industry and Energy Sign 'SME Product Purchase Promotion' Agreement

Kim Ki-moon, President of the Korea Federation of Small and Medium Business (right), attended the 'Promotion of Purchasing Small and Medium Enterprise Products' business agreement ceremony with the Ministry of Trade, Industry and Energy held at the Korea Electric Power Corporation Namseoul Headquarters in Yeouido, Seoul on the 7th, and took a commemorative photo with Sung Yun-mo, Minister of Trade, Industry and Energy.

[Asia Economy Reporter Kim Daeseop] The Korea Federation of Small and Medium Business (KSMB) announced on the 7th that it has signed a business agreement with the Ministry of Trade, Industry and Energy to promote the purchase of small and medium-sized enterprise (SME) products.

The signing ceremony was held at the Korea Electric Power Corporation Namseoul Headquarters in Yeouido, Seoul, attended by Kim Gi-moon, Chairman of KSMB, Sung Yun-mo, Minister of Trade, Industry and Energy, and heads of 40 public institutions under the ministry.

This agreement was made to lead support for SMEs and small business owners in the public sector, considering the need to assist those struggling due to the domestic demand cliff and sharp sales decline caused by the spread of the novel coronavirus disease (COVID-19).

The 40 public institutions under the Ministry of Trade, Industry and Energy agreed through the signing to jointly strive for ▲ early execution of budgets for purchasing SME products and support ▲ reduction of financial burdens for companies participating in procurement ▲ utilization of the small-amount direct contract system and prompt payment of contract fees.

Chairman Kim Gi-moon stated, "The efforts of public institutions will be a great help to SMEs and small business owners facing difficulties," adding, "Support and cooperation from the heads of public institutions are necessary to ensure that the government's relaxation measures on public contract systems are promptly reflected on the ground."

He continued, "We ask for continuous interest and cooperation from public institutions so that not only separate orders for SME products but also technically capable small enterprises and small business owners can participate in the procurement market through cooperative associations by utilizing the association-recommended direct contract system."

Minister Sung Yun-mo said, "I urge public institutions to actively work to provide practical support that SMEs and small business owners can feel in the industrial field, overcoming the economic crisis caused by COVID-19 through public-private wisdom, and to make this agreement a turning point."

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