Sogongyeon "3rd Emergency Disaster Relief Fund Must Be Provided to Small Business Owners"

Proposal at Policy Meeting with Lee Nak-yeon, Leader of the Democratic Party of Korea, and Others

Participants posing after a policy meeting with Lee Nak-yeon, leader of the Democratic Party of Korea. From the left, Jeon Hye-sook, Chairperson of the National Skills Representatives Conference; Lee Nak-yeon, leader; Kim Im-yong, Acting President of the Korea Federation of Micro Enterprise; Jeon Yong-gi, member of the National Assembly.
[Photo by Korea Federation of Micro Enterprise]

[Asia Economy Reporter Kim Jong-hwa] "We must provide the 3rd emergency disaster relief fund to small business owners suffering extreme hardship due to business restrictions."

The Korea Federation of Small and Medium Business (KSMB) made this request during a policy meeting with the Democratic Party representatives, including party leader Lee Nak-yeon, at the National Assembly on the 10th.

At the meeting, attendees from the Democratic Party included Leader Lee, Policy Committee Chair Han Jeong-ae, National Vocational Representatives Conference Chair Jeon Hye-sook, and National Assembly members Song Gap-seok and Jeon Yong-gi. From KSMB, Acting Chair Kim Im-yong, President Oh Se-hee of the Korea Makeup and Beauty Association Central Committee, President Lim Won-bae of the Korea Supermarket Cooperative Federation, President Jeong Gyeong-jae of the Korea Lodging Industry Central Association, and President Lee Seon-sim of the Korea Beauty Association Central Committee participated.

Acting Chair Kim Im-yong stated, "Due to the elevation of social distancing to level 2.5 in the metropolitan area, most social activities have come to a complete halt until the end of the year, causing small business owners to endure extreme hardship," and urged the necessity of executing the 2nd Small Business New Hope Fund.

Additionally, they proposed measures including direct rent support for small business owners and indirect support through tax reductions for landlords, support for non-face-to-face distribution structures due to digital transformation, expansion of small business exclusive gift certificates and linkage with local currencies and Zero Pay for easy payments among small business owners, enactment of laws for fair online platform intermediary transactions, laws to revitalize coexistence in local commercial districts, reinstatement of the receipt lottery system, and sales promotion plans for shopping districts.

In response, Leader Lee said, "The party is well aware of the difficulties faced by small business owners and is implementing various policies focused on them," adding, "We will actively review the proposals from the Korea Federation of Small and Medium Business and find areas where support can be provided."

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