April Loss Compensation Fails... Small Business Owners Accuse National Assembly of "Dereliction of Duty"

Small Business Federation Issues Statement on 30th Criticizing Political Circles
"Cannot Hide Disappointment and Anger Toward National Assembly... Loss Compensation Is a Livelihood Issue, Not Political Conflict"

Small business owners and self-employed individuals are demanding retroactive legislation for compensation of losses due to COVID-19 on the 12th in front of the National Assembly main building, together with People Power Party lawmakers Choi Seung-jae, Kim Seong-won, and Yoon Young-seok. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Junhyung Lee] As the COVID-19 Loss Compensation Act has once again failed to pass the National Assembly this month, small business owners are urging the legislation, calling it "dereliction of duty by the National Assembly."

The Korea Federation of Small and Medium Business (KSMB) issued a statement on the 30th criticizing the political circles for the collapse of the bill subcommittee of the National Assembly's Industry, Trade, Energy, Small and Medium Venture Business Committee (SanJaWi), which was supposed to discuss the loss compensation legislation.

The KSMB stated, "Small business owners have earnestly urged the National Assembly to open a path for those with nowhere else to turn through the legislation of loss compensation," adding, "We cannot hide our disappointment and anger at the National Assembly's behavior of not even convening the bill subcommittee, and we want to ask whether the National Assembly is qualified to mention the livelihood of the people."

The Korea Federation of Micro Enterprise held a press conference in front of the National Assembly in Yeouido, Seoul on the 26th, urging the swift legislation of retroactive application of loss compensation. [Photo by Korea Federation of Micro Enterprise]

They continued, "The retroactive application of loss compensation legislation for small business owners affected by COVID-19 is not a political dispute but the most urgent livelihood issue," emphasizing, "The emergency transfusion needed by small business owners struggling for survival is being delayed endlessly, and the possibility of processing it is even decreasing, which is heartbreaking."

The KSMB pointed out, "If there are parts of the bill that the National Assembly opposes, it should not avoid the issues but engage in discussions to find alternatives and points of agreement," adding, "However, the fact that the bill subcommittee cannot even be convened is tantamount to the National Assembly neglecting its responsibilities and dereliction of duty."

They also added, "Small business owners sincerely hope that the ruling and opposition parties will cooperate across party lines even now to open the way for the retroactive application of loss compensation," and "We urge the National Assembly to awaken once again."

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