SMEs "Expansion of Product and Service Procurement"... Ministry of National Defense Meeting

Front view of the Korea Federation of Small and Medium Business Associations

[Asia Economy Reporter Kim Daeseop] The Korea Federation of SMEs announced on the 2nd that it held a meeting with the Ministry of National Defense to address the difficulties faced by small and medium-sized enterprises (SMEs) involved in defense procurement.

The meeting took place at the Federation of SMEs headquarters in Yeouido, Seoul. Attendees included the full-time vice chairman of the Federation of SMEs, the Director of Personnel and Welfare at the Ministry of National Defense, the Chief of Staff of the Armed Forces Welfare Service, and chairpersons of SME cooperative associations related to defense procurement.

Representatives of SMEs made five on-site proposals including ▲easing administrative sanctions ▲expanding the purchase of SME products and services ▲resolving labor shortages in SMEs and improving awareness. Additionally, they submitted four written proposals totaling nine requests, including ▲expanding the use of domestically produced starch ▲establishing a complex logistics park in the Kaesong Industrial Complex.

The Federation of SMEs and the Ministry of National Defense plan to continue holding meetings to communicate and listen to the concerns of SMEs. Both organizations pledged to actively support the defense procurement industry.

Seo Seungwon, full-time vice chairman of the Federation of SMEs, said, "We appreciate the Ministry of National Defense's efforts to strengthen support for SMEs in the defense sector," adding, "We ask for continued support and encouragement for SMEs through expanding purchases of SME products and participation of SME cooperatives in the defense procurement market, such as contracts recommended by cooperatives."

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