Helping Both Small Business Owners and Vulnerable Groups: Traditional Market Shopping and Sharing

On the 12th, Mangwon Market in Mapo-gu, Seoul, appeared quiet due to the impact of the COVID-19 situation. Photo by Moon Hyewon, Asia Economy

[Asia Economy Reporter Moon Hyewon] The small and medium-sized enterprises (SME) sector is boosting a spirit of coexistence by collectively purchasing goods for the nationwide traditional markets, which have been stagnated due to the novel coronavirus disease (COVID-19) crisis. The purchased goods will be donated to nearby welfare institutions.

According to the Korea Federation of SMEs on the 14th, the federation headquarters, 13 regional headquarters, and the SME Love Sharing Foundation are conducting a love-sharing campaign by buying daily necessities at traditional markets nationwide and donating them to nearby welfare institutions until the 22nd of this month.

The Seoul Regional Headquarters previously purchased blankets, food, and daily necessities at the Mangwon-dong World Cup Market (Mangwon Market) in Mapo-gu, Seoul, and plans to deliver them to three welfare institutions in the district, including a protection facility for single mothers and a residential welfare center (worth a total of 3 million won). Additionally, the Korea Federation of SMEs Chairman's Council will contribute about 2 million won more to be used as welfare support funds.

The purchase of traditional market goods and donation activities to welfare centers have been steadily carried out for eight years since the Korea Federation of SMEs established the SME Love Sharing Foundation. Usually conducted twice a year during the Lunar New Year and Chuseok holidays, the number of support activities has increased this year to help small business owners struggling due to the COVID-19 crisis.

Separately, on the same day, the Korea Federation of SMEs chairman group, including Senior Vice Chairmen Seo Byung-moon and Kwon Hyuk-hong, purchased goods worth 20 million won using Onnuri gift certificates at Mangwon Market and donated them to local welfare facilities. Chairman Kim Ki-moon visited Namdaemun Market in Seoul on the same day to console market merchants and held a donation ceremony to help neighbors in need. Chairman Kim said, "Since this sharing activity was created with a good purpose, I ask for your great interest and affection in watching over it."

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