Small and Medium Business Sector Meets with Representative Lee Nak-yeon to Express Concerns over Military-Related Legislation

Kim Ki-moon, President of the Korea Federation of Small and Medium Business, and heads of small and medium enterprise organizations met Lee Nak-yeon, leader of the Democratic Party of Korea, at the National Assembly to express concerns regarding legislative issues related to small and medium enterprises.
[Photo by Korea Federation of Small and Medium Business]

[Asia Economy Reporter Kim Jong-hwa] On the 12th, Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business (KOSME), and heads of small and medium enterprise organizations met with Lee Nak-yeon, leader of the Democratic Party of Korea, at the National Assembly to express concerns regarding legislative issues related to small and medium enterprises.

KOSME stated, "Among recent legislative issues, we expressed concerns about the enactment of the Serious Accidents Punishment Act, which is expected to increase the burden on small and medium enterprises, the taxation policy on excess retained earnings of small corporations, and the abolition of the Fair Trade Commission's exclusive right to prosecute." They added, "We also requested the extension of the guidance period for the 52-hour workweek system and flexibility in working hours, as well as prompt legislative amendments for the exemption of regular inspections under the Chemical Substances Control Act and revisions to standards for handling facilities."

Kim Ki-moon, Chairman of KOSME, emphasized, "It is necessary to actively reflect the opinions from the field of small and medium enterprises in legislation to overcome the economic crisis faced by SMEs and prepare for the post-COVID era."

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