Junggi Group Council, 'Recovery of the People's Economy' Campaign... "Good Consumer Movement"

Kim Ki-moon, President of the Korea Federation of Small and Medium Business (fourth from the left), and the presidents of the Small and Medium Business Association Council are posing for a commemorative photo at the "Campaign for the Recovery of the People's Economy" held on the 14th at Namdaemun Market in Jung-gu, Seoul.

[Asia Economy Reporter Kim Daeseop] The Korea Federation of Small and Medium Business (Kbiz) announced on the 14th that it will promote the 'Campaign for the Recovery of the People’s Economy' in collaboration with the Council of Small and Medium Business Organizations.

This campaign, launched to create an opportunity for domestic economic recovery and revitalization of domestic demand, will be carried out until the end of the year, starting with visits to traditional markets on the occasion of the 32nd Small and Medium Business Week. The Council of Small and Medium Business Organizations consists of 15 organizations, including Kbiz, the Korea Women Entrepreneurs Association, and the Korea Federation of Micro Enterprise.

On the same day, the chairpersons of the Council of Small and Medium Business Organizations, including Kim Gi-moon, chairman of Kbiz, visited Namdaemun Market in Jung-gu, Seoul, purchasing goods from various stores. Seo Byung-moon, senior vice chairman of Kbiz, and other small business owners also visited the World Cup Market in Mangwon-dong, Seoul.

The Council of Small and Medium Business Organizations, including Kbiz, purchased goods worth a total of 20 million KRW using Onnuri gift certificates during the traditional market visits. The purchased items for neighbors in need will be donated to local welfare facilities.

The slogan for this campaign by the small and medium business community for the recovery of the people’s economy is "People’s Economy CPR, Cardiopulmonary Resuscitation to Revive the Economy." The medical term "CPR (cardiopulmonary resuscitation)" was reinterpreted as "Consumption Promotion" and "Rebuild" to reflect the determination to overcome the economic emergency caused by COVID-19.

The campaign includes three major consumption promotion activities by the small and medium business community and support in four areas by Kbiz for business normalization. The consumption promotion activities carried out together by the small and medium business community are ▲Good Consumer Movement ▲Domestic Travel Movement ▲Promotion of Small and Medium Business and Micro Enterprise Products.

Additionally, the business normalization support promoted by Kbiz consists of ▲Post-COVID-19 Response Support ▲Awareness Improvement and Morale Boost Support ▲Dispute and Litigation Support ▲Loan Interest Burden Relief Support.

Kbiz plans to propose the formation of a bipartisan consultative body related to small and medium business policies to the newly convened 21st National Assembly. It will also continuously operate policy communication channels with the government to regularly convey suggestions for the recovery of the people’s economy.

Kim Gi-moon, chairman of Kbiz, said, "The small and medium business community has proactively carried out campaigns to overcome COVID-19, such as the Good Landlord Movement and voluntary donations of emergency disaster relief funds, based on the spirit of coexistence that 'the weak protect the weaker.' I hope this campaign for the recovery of the people’s economy will become a new driving force that breathes warmth into our economy, and I also hope for active participation from all sectors to revitalize the campaign."

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