SMEs Meet Kim Jong-in, Propose Reflecting Industry Legislative Issues and Field Opinions

Kim Ki-moon, Chairman of the Korea Federation of SMEs (left), visited Kim Jong-in, Emergency Committee Chairman of the People Power Party, at the National Assembly Main Building on the 16th to convey recent issues facing the SME sector. Photo by Korea Federation of SMEs

[Asia Economy Reporter Moon Hyewon] On the 16th, Kim Gi-moon, Chairman of the Korea Federation of SMEs, met with Kim Jong-in, Emergency Committee Chairman of the People Power Party, and requested, "Please actively reflect the field opinions on legislative issues concerning SMEs, such as the Serious Accidents Punishment Act, so that small and medium-sized enterprises can overcome the economic crisis they face and prepare for the post-COVID-19 era."

The field opinions on legislative issues that Chairman Kim delivered to Chairman Kim along with heads of SME organizations on that day include ▲ enactment of the Serious Accidents Punishment Act ▲ taxation policy on excess retained earnings of small and medium corporations ▲ abolition of the Fair Trade Commission's exclusive right to prosecute ▲ extension of the guidance period for the 52-hour workweek system and flexibilization of working hours ▲ prompt legislative supplementation for deferral of regular inspections under the Chemical Substances Control Act and revision of standards for handling facilities.

In response, Kim Jong-in, Emergency Committee Chairman of the People Power Party, said, "We will fully collect opinions from the field and respond legislatively," adding, "The three corporate regulation laws, including the abolition of the exclusive right to prosecute, are legislations to regulate wrongful practices of large corporations, but we will ensure that SMEs do not suffer damage as a result."

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