Junggi Joonganghoe Takes Direct Initiative in Negotiating Delivery Payment Adjustments

Holding a Discussion on Amendments to the Win-Win Cooperation Act to Create an Environment for Fair Payment of Delivery Prices

[Asia Economy Reporter Kim Cheol-hyun] The Korea Federation of Small and Medium Business (Chairman Kim Ki-moon) announced that, together with the Korean Confederation of Trade Unions (Chairman Kim Dong-myung), it held a "Discussion on the Amendment of the Win-Win Cooperation Act to Create an Environment for Fair Payment of Supply Prices" on the 2nd, hosted by the office of Democratic Party lawmaker Kim Kyung-man.

This discussion was organized to gather opinions regarding the partial amendment bill of the "Act on the Promotion of Mutual Growth between Large Enterprises and Small and Medium Enterprises" (hereinafter referred to as the Win-Win Cooperation Act), proposed by lawmaker Kim Kyung-man on the 8th of last month, which allows the Korea Federation of Small and Medium Business to negotiate adjustments of supply prices with consigned companies.

Attorney Kim Nam-geun of the law firm Wemin pointed out the limitations of the existing system that allows individual companies or small and medium enterprise cooperatives to negotiate supply price adjustments, and argued that it is necessary to establish detailed roles and specific procedures for the Korea Federation of Small and Medium Business to negotiate supply prices on behalf of SMEs.

Also, the discussion, chaired by Professor Emeritus Kwon Oh-seung of Seoul National University, featured panelists including Professor Lee Jeong-hwan of Myongji University, Research Fellow Choi Soo-jung of the Small and Medium Business Research Institute, Headquarters Director Jeong Moon-ju of the Korean Confederation of Trade Unions, Win-Win Cooperation Policy Officer Park Jong-chan of the Ministry of SMEs and Startups, and Innovation Growth Headquarters Director Jeong Uk-jo of the Korea Federation of Small and Medium Business, who engaged in in-depth discussions on ways to revitalize the supply price adjustment negotiation system.

Kim Ki-moon, chairman of the Korea Federation of Small and Medium Business, stated, "Small and medium enterprises must receive proper payment for their supplies to properly pay wages to workers and create healthy SME jobs," adding, "The issue of supply price undercutting is a chronic unfair trade practice that the SME sector finds most challenging, and the amendment of the Win-Win Cooperation Act allowing the Korea Federation of Small and Medium Business to directly negotiate supply price adjustments must be promptly enacted."

Lawmaker Kim Kyung-man emphasized, "This is a crucial time to restore the growth engine of small and medium enterprises, which form the economic foundation of South Korea in the post-COVID era," and added, "The National Assembly will also actively strive to establish a fair trade order between companies and foster a culture of win-win cooperation."

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