Kwon Chil-seung Emphasizes Speed of Loss Compensation System: "Hope Discussions Are Concluded Quickly"

"Serious Accident Punishment Act, On-site Monitoring... We Will Find Parts to Change"

Kwon Chil-seung, nominee for Minister of SMEs and Startups. / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Bo-kyung] Kwon Chil-seung, nominee for Minister of SMEs and Startups, emphasized the "fast pace" regarding the loss compensation system for self-employed individuals currently being discussed by the ruling party and government.

On the morning of the 1st, while heading to the hearing preparation office set up in Yeouido, Seoul, Kwon told reporters, "Since discussions on the loss compensation system have officially begun, it is natural to proceed in a good direction," adding, "Speed is also important in this matter. I hope the discussions centered around the National Assembly will be concluded quickly."

Regarding the self-employed's demand for retroactive application of the loss compensation system, Kwon said, "That part will also be determined by law," and added, "The 2nd and 3rd disaster relief funds have effectively had a retroactive effect, so that aspect should also be taken into account during discussions."

On the issue of approaching losses incurred by self-employed individuals due to business restrictions or bans as "special support" rather than "compensation," he stated, "It will be organized in a balanced manner overall."

Concerning opposition from the small business sector to the Serious Accident Punishment Act, Kwon said, "It is the role of the Ministry of SMEs and Startups to closely monitor any issues during the actual field application process and to identify parts that need to be changed if necessary."

Regarding requests from self-employed individuals to ease business restrictions, he explained, "We fundamentally cannot disregard the stance of the quarantine authorities," and added, "We are proceeding with suggestions so that the unique circumstances on the ground can be somewhat reflected."

Meanwhile, the National Assembly's Industry, Trade, and SMEs Committee plans to hold a confirmation hearing for Kwon Chil-seung, nominee for Minister of SMEs and Startups, on the 3rd to verify his qualifications and morality.

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