Daegu·Gyeongbuk SMEs "Expansion of Special Guarantee, Interest Support"... Industry-Specific Meeting

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

[Asia Economy Reporter Kim Daeseop] The Korea Federation of Small and Medium Business (KSMB) announced on the 2nd that it held an on-site meeting with small and medium enterprises (SMEs) in Daegu and Gyeongbuk affected by the novel coronavirus disease (COVID-19).

The meeting was held at the Daegu Inter-Burgo Hotel with 35 representatives of SMEs from various industries, local government officials, and related agency personnel in attendance. They reviewed the damage situation of SMEs and small business owners in Daegu and Gyeongbuk, the regions most severely affected by COVID-19, and discussed the establishment of on-site, tailored support policies.

Representatives of SMEs from different industries requested the preparation of minimum direct and indirect support measures for business survival, including ▲expansion of special guarantees and interest support ▲temporary social insurance fee support ▲improvement of the method of payment for employment retention subsidies ▲expansion of local government and public institution procurement orders.

Kim Gi-moon, chairman of the KSMB, stated, "The federation is conveying the difficulties faced by SMEs and small business owners struggling due to COVID-19 to the government and the National Assembly through various channels," adding, "Although on-site demands are being promptly reflected in policies, there are many calls for further improvements as the economic shock intensifies."

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