Korea Federation of SMEs Presents Plaque of Appreciation to Assemblyman Kim Ju-young

Kim Ki-moon, Chairman of the Korea Federation of SMEs, is presenting a plaque of appreciation to Kim Joo-young, a member of the Democratic Party of Korea, on the 24th at the Korea Federation of SMEs building in Yeouido, Seoul. Photo by Korea Federation of SMEs


(From left) Kim Joo-young, Member of the National Assembly / Kim Ki-moon, Chairman of the Korea Federation of SMEs

[Asia Economy Reporter Moon Hyewon] Kim Gi-moon, Chairman of the Korea Federation of SMEs, presented a plaque of appreciation to Kim Ju-young, a member of the Democratic Party of Korea, on the 24th. This is the first time that the Federation of SMEs has presented a plaque of appreciation to a member of the National Assembly who is a former chairman of the Korean Confederation of Trade Unions (KCTU). Chairman Kim explained that since the competitiveness of small and medium-sized enterprises (SMEs) is linked to the quality of life of workers, the gesture carries the meaning that Representative Kim, who represents the labor sector, should also strive to revitalize SMEs in the National Assembly.

Representative Kim has a connection with Chairman Kim from December last year when, during his tenure as KCTU chairman, they held a 'Meeting on Improving Unfair Trade between Large and Small-Medium Enterprises and Promoting Win-Win Cooperation' together. The meeting was arranged when Chairman Kim visited the KCTU to discuss the 52-hour workweek system, and former Chairman Kim expressed his desire to discuss monopoly issues among large, medium, and small enterprises.

At the meeting, the two organizations agreed that the growth of SMEs is stagnating due to unfair trade practices by large corporations, such as price-cutting on supply costs and preferential allocation of work, and decided to promote joint projects to improve these issues. They agreed to establish a joint task force (TF) under both organizations to conduct surveys on unfair trade practices against SMEs cooperating with large corporations, carry out joint research on measures to eradicate unfair trade, and set up a reporting center for unfair trade. Specifically, regarding the reporting center, the Federation will receive reports from business owners, while the KCTU will receive reports from SME workers.

Chairman Kim said, “I hope that during Representative Kim’s tenure, he will provide hope to SMEs and workers and engage in politics that can be trusted,” and added, “I look forward to active legislative activities to open an era of coexistence between SMEs and workers.”

In response, Representative Kim said, “The issue of resolving social polarization through improving unfair trade can only be emphasized more in the economic crisis caused by COVID-19,” and added, “To overcome the current economic crisis and create sustainable development in our society, I will contemplate and practice ways for large corporations, SMEs, workers, and ordinary people to live together.”

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