Opening of the '32nd Small and Medium Business Week'... "Launch of the Supply Price Adjustment Committee"

Headquarters of the Korea Federation of SMEs

[Asia Economy Reporter Kim Daeseop] The biggest festival for small and medium-sized enterprises (SMEs), 'SME Week,' opened on the 11th at the Korea Federation of SMEs in Yeouido, Seoul. Marking its 32nd year, a total of 43 events will be held across 17 cities and provinces nationwide until the 15th. As the first event of the opening ceremony, the Korea Federation of SMEs held the 'Large and Small Business Delivery Price Adjustment Committee Inauguration Ceremony.'

This 32nd SME Week is held under the slogan "A Brighter Tomorrow for SMEs, a Happy Future for Korea." It is hosted by 16 SME organizations, organized by 17 related SME institutions, and supported by 10 central administrative agencies and 15 metropolitan local governments.

In particular, considering the social atmosphere due to the novel coronavirus infection (COVID-19), large-scale gatherings and event-type activities have been minimized. Only key events aimed at overcoming the SME crisis and revitalizing the regional economy are being conducted.

The Large and Small Business Delivery Price Adjustment Committee, launched through SME Week, was established following the government's push to grant the Korea Federation of SMEs the authority to negotiate delivery price adjustments. Attendees at the inauguration included Kim Gi-moon, Chairman of the Korea Federation of SMEs; Park Young-sun, Minister of SMEs and Startups; Ji Cheol-ho, Vice Chairman of the Fair Trade Commission; Jo Jeong-sik, Chairman of the Democratic Party Policy Committee; and Kim Dong-myeong, Chairman of the Federation of Korean Trade Unions, who reaffirmed their commitment to establishing a fair delivery price transaction environment and related systems.

Chairman Kim Gi-moon stated, "In a situation where the gap between large and small businesses is widening day by day, the issue of unfairly low delivery prices must be eradicated." He added, "I hope the Large and Small Business Delivery Price Adjustment Committee will serve as a catalyst not only to resolve delivery price issues but also to foster win-win cooperation between large corporations and SMEs."

The Large and Small Business Delivery Price Adjustment Committee is an organization created to establish an internal review process tailored to on-site delivery price adjustments and to specify detailed implementation plans. It consists of 17 private members, including representatives from various SME sectors and experts from different fields.

Seo Byung-moon, Chairman of the Korea Foundry Industry Cooperative, was appointed as the committee chairman. Chairman Seo emphasized, "It is not easy for SMEs, who are thoroughly in the subordinate position in contractual relationships, to demand delivery price increases from large corporations themselves. Moving forward, we plan to actively work through the committee to spread a culture of appropriate delivery price payments."

In addition to the inauguration ceremony of the Large and Small Business Delivery Price Adjustment Committee, SME Week events such as the 'Forum on the Power of Connection among SMEs through SME Cooperatives' on the 13th and the 'Discussion on Overcoming the COVID-19 SME Crisis and Sustainable Growth' on the 14th are scheduled.

The Korea Federation of SMEs and other SME organizations and support institutions have voluntarily designated the third week of May as 'SME Week' annually since 1989. Since July 2011, it has been codified as a statutory week under Article 26 of the Framework Act on Small and Medium Enterprises and Article 17 of its Enforcement Decree.

Chairman Kim said, "The 32nd SME Week event is a festival to boost the pride of SMEs and improve public awareness," and added, "We ask for the interest of all citizens in the SME Week events aimed at improving the perception of SMEs."

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