Kim Hak-do "Rapid Fund Supply"... Korea Federation of SMEs Support for 'Innovative Growth'

Overcoming Liquidity Difficulties Caused by COVID-19 Damage

Kim Hak-do, President of the Small and Medium Business Promotion Corporation (seventh from the left in the front row), and Kang Seung-gu, Chairman of the Korea Federation of SMEs (sixth from the left in the front row), are attending a meeting held on the 15th at the JH Legend Hotel in Daejeon and posing for a commemorative photo with businesspeople.

[Asia Economy Reporter Kim Daeseop] The Small and Medium Business Corporation (SBC) announced on the 15th that it held a meeting with the Korea Federation of SMEs at the JH Legend Hotel in Daejeon.

About 40 people attended the meeting, including Kim Hak-do, Chairman of SBC, and Kang Seung-gu, President of the Korea Federation of SMEs. They shared on-site difficulties and discussed policy support measures to overcome the crisis of small and medium-sized ventures and promote innovative growth in the post-COVID-19 era.

The Korea Federation of SMEs requested active and prompt financial support to overcome management difficulties and temporary liquidity challenges caused by the economic downturn due to the novel coronavirus infection (COVID-19). They also proposed various support measures for small and medium-sized ventures, including marketing support for companies entering overseas markets.

Chairman Kim Hak-do said, "To overcome the damage caused by COVID-19, we increased the emergency management stabilization fund from the initial 100 billion won to 1.3 trillion won through supplementary budgets and fund reallocations. To provide prompt financial support, we expanded the Ambulance Man system and Hi-Pass screening. We will also strive to expand and execute the budget so that sufficient funds can be supplied timely and swiftly."

At the meeting, SBC also introduced the 'Global Platform (Shopping Mall) Korea Pavilion Establishment and Entry Support Project' to support marketing for companies entering overseas markets.

Chairman Kim Hak-do stated, "We will carefully examine the difficulties and suggestions raised at the meeting from the perspective of small business policy demanders. We will strengthen support so that small businesses can overcome the COVID-19 crisis and gain competitiveness in the post-COVID-19 era."

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