SME Industry Meets Representative Lee Nak-yeon to Propose 7 Key Issues

First Visit to the Business Community Since Party Leader Inauguration: Meeting with SMEs and Small Business Owners

(From the front row, left) Kim Kyung-man, Member of the Democratic Party of Korea; Kim Moon-sik, Chairman of the Korea Gas Station Operators Cooperative; Choi In-ho, Chief Spokesperson of the Democratic Party of Korea; Oh Young-hoon, Secretary to the Party Leader of the Democratic Party of Korea; Han Jung-ae, Chairperson of the Policy Committee of the Democratic Party of Korea; Lee Nak-yeon, Party Leader of the Democratic Party of Korea; Kim Ki-moon, President of the Korea Federation of SMEs; Kim Young-yoon, President of the Korea Specialty Contractors Association; Jung Yoon-sook, President of the Korea Women Entrepreneurs Association, are posing for a commemorative photo.

The small and medium-sized enterprises (SME) sector held a meeting with Lee Nak-yeon, leader of the Democratic Party of Korea, to propose seven key agenda items aimed at minimizing the damage to SMEs and small business owners caused by the resurgence and prolonged impact of COVID-19, and to help restore vitality. This meeting was arranged following Lee’s promise, upon taking office, to be the first among economic leaders to visit SMEs and small business owners. It is expected to serve as a catalyst for more active discussions on SME and small business policies in the National Assembly going forward.

On the 14th, the Korea Federation of SMEs announced that it held a meeting with Lee Nak-yeon and SME representatives at the Federation’s office in Yeouido. The meeting was organized for Lee, accompanied by key party officials, to listen to the difficulties faced by SMEs due to COVID-19. Attending from the Democratic Party were Han Jeong-ae, Chair of the Policy Committee; Lee Hak-young, Chair of the National Assembly’s Industry, Trade, Energy, SMEs and Startups Committee; Choi In-ho, Chief Spokesperson; Oh Young-hoon, Secretary to the Party Leader; and Assemblyman Kim Kyung-man. From the SME sector, attendees included Kim Ki-moon, Chairman of the Korea Federation of SMEs; Seo Byung-moon, Chairman of the Korea Foundry Industry Cooperative; Kwon Hyuk-hong, Chairman of the Korea Paper Industry Cooperative; as well as leaders of various SME organizations such as Kim Young-yoon, President of the Korea Specialty Contractors Association; Jung Yoon-sook, President of the Korea Women Entrepreneurs Association; and Park Mi-kyung, President of the Korea Women Venture Association. Also present were 18 representatives from small business owners in industries subject to gathering restrictions.

During the meeting, seven agenda items were discussed: support for revitalizing joint sales by SME cooperatives; prompt legislative amendments to the working hours system; resumption of foreign workers’ entry, which had been suspended due to COVID-19; easing administrative sanctions on fraudulent operators and pursuing special pardons; measures to protect small businesses when entering mutual markets between general and specialized sectors; expanded budget support to promote women’s entrepreneurship and business activities; and easing environmental regulations under the Chemical Control Act and the Hazardous Substances Control Act.

In particular, the SME sector actively proposed solutions to problems faced in finance, labor, and sales channels. Kim Ki-moon, Chairman of the Korea Federation of SMEs, emphasized, “Commercial banks should respond to the government’s financial measures to overcome the crisis.” Regarding labor issues, he stressed, “As the grace period for the 52-hour workweek system for workplaces with fewer than 300 employees ends at the end of December, supplementary legislation on flexible and selective working hour systems must be enacted within this year.” On sales channels, Chairman Kim stated, “The government and public institutions have temporarily expanded the limit for direct contracts of SME products recommended by cooperatives until the end of this year. We request active implementation to ensure that this improved system is properly enforced on the ground so that small business owners and micro SMEs can survive.” He added, “SMEs and small business owners will cooperate with the spirit of Ubuntu, meaning ‘I am because you are,’ to overcome Korea’s crisis together.” Ubuntu is a Bantu language term from Africa, which Lee Nak-yeon used in his parliamentary floor speech on the 7th to emphasize ‘solidarity and cooperation.’

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