Korea Federation of SMEs Holds Meeting with People Power Party... "Regulatory Legislation Increases Burden on SMEs"

[Asia Economy Reporter Lee Jun-hyung] The small and medium-sized enterprises (SME) sector expressed their burdens caused by regulatory legislation to the People Power Party and actively requested policy support.

The Korea Federation of SMEs announced on the 18th that it held a 'SME Field Difficulty Meeting' with the People Power Party's SME Committee.

The meeting was organized by the People Power Party's SME Committee to listen to and seek solutions for the core issues and field difficulties of SMEs by industry and sector. Attending the meeting were Chairman Han Mu-kyung, Vice Chairmen Kwon Myung-ho and Kim Do-hoon, Assemblywoman Yang Geum-hee, and about 10 other members of the People Power Party's SME Committee, along with Seo Seung-won, Executive Vice President of the Korea Federation of SMEs.

At the meeting, the Korea Federation of SMEs proposed ▲ R&D support for common demand technologies of SME cooperatives ▲ improvement of the 'lowest price element' in the public procurement market ▲ establishment of separate credit evaluation standards for SMEs in financial institution loans and guarantees ▲ introduction of an exclusive electricity tariff system for small and medium manufacturers ▲ institutional improvements to ensure fair payment for delivered goods ▲ strengthening sanctions against unfair trade practices to eradicate technology theft.

Seo Seung-won, Executive Vice President of the Korea Federation of SMEs, said, "Despite the very difficult situation for SMEs and small business owners due to COVID-19, regulatory legislation by the National Assembly that hinders business activities continues to increase, exacerbating difficulties," and added, "We requested active policy support along with legislation reflecting the opinions from the SME field to overcome the economic crisis."

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