Assemblyman Shin Jeong-hoon Introduces Amendment Bill for 'Promotion of SME Purchases and Market Support'
[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Congressman Shin Jeong-hoon (Jeonnam Naju·Hwasun, Democratic Party of Korea) has taken the lead in proposing a revision to the "Act on Promotion of Purchase and Market Expansion of Small and Medium Enterprise Products" to strengthen the competitiveness of small and medium enterprises (SMEs).
This revision focuses on establishing a legal basis for supporting advertising for SMEs to promote the purchase and secure market channels for SME products.
Once the revision is passed, the Minister of SMEs and Startups may delegate the planning, production, and media purchasing of SME advertisements to an institution designated by Presidential Decree and may support the necessary expenses for project execution within the budget.
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Congressman Shin Jeong-hoon explained the purpose of the proposal, saying, "Even if SMEs develop and produce innovative products, they face practical difficulties in actively reaching consumers due to a lack of advertising capabilities and funds," and added, "We must foster a self-sustaining growth foundation for SMEs and strengthen competitiveness to move toward a 'pot-shaped economy with a strong waist.'"
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