Incheon SMEs "Factory Operation Rate Decline, Labor Cost Burden"... Namdong Industrial Complex Meeting

Kim Hak-do, President of the Small and Medium Business Corporation (center front row), is holding a meeting with small and medium venture business owners in the Incheon area on the 3rd and taking a commemorative photo.

[Asia Economy Reporter Kim Daeseop] The Small and Medium Business Corporation announced on the 3rd that it held an on-site meeting by visiting companies affected by the novel coronavirus disease (COVID-19) in the Incheon area.

The meeting was held at Namdong Industrial Complex in Incheon. Kim Hak-do, Chairman of the Small and Medium Business Corporation, and 10 local small and medium venture business owners attended.

The representatives of small and medium venture businesses discussed various difficulties such as decreased factory operation rates due to the suspension of production by their main automobile manufacturers, increased labor cost burdens caused by overseas economic slowdown and export decline, and increased export logistics costs.

Chairman Kim Hak-do listened to the difficulties faced by each company and provided information on policy support projects and related institution support, suggesting directions to overcome the COVID-19 crisis. He also introduced policy support directions for small and medium enterprises in response to the post-COVID era and sought practical support measures together with the participants.

At this meeting, Kim Dong-hwan, CEO of Hwadong Hightech, emphasized, "Compared to the continuous development of domestic and international logistics industries, the technological capability and business feasibility of domestic logistics equipment manufacturing SMEs remain low," and added, "Efforts are needed to strengthen the competitiveness of the domestic logistics equipment manufacturing industry, such as supporting technological collaboration among companies in this field."

Before the meeting, Chairman Kim visited MSC, a semiconductor surface treatment chemical manufacturer located in Namdong Industrial Complex, Incheon, to inspect the production site.

Chairman Kim said, "If small and medium enterprises have played an important role as key supporters ensuring the quality of large companies' products, in the post-COVID era, they will become the main players leading future new industries," and added, "The Small and Medium Business Corporation will be a reliable partner during difficult times by working together on the ground with small and medium enterprises, and will be a generous supporter when they challenge innovation."

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