Choi Jae-hyung Holds Meeting at Korea Federation of SMEs to Discuss SME Issues

Choi Jae-hyung, a preliminary presidential candidate of the People Power Party, is attending an election strategy meeting held at the campaign office set up in a building in Yeouido, Seoul, on the 9th, delivering a greeting. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Junhyung Lee] The Korea Federation of Small and Medium Business (KSMB) announced on the 12th that it held a 'Good Morning Talk with Choi Jae-hyung, the People Power Party's presidential primary candidate' at the KSMB headquarters in Yeouido, Seoul.

Former Board of Audit and Inspection Chairman Choi Jae-hyung took time during the meeting to listen to the difficulties faced by small and medium-sized business owners. Former Chairman Choi discussed recent SME issues including ▲supplementing the Serious Accidents Punishment Act to resolve problems of excessive criminal penalties ▲allowing additional extended working hours on a monthly or yearly basis to alleviate manpower shortages caused by the 52-hour workweek system ▲introducing a delivery price linkage system to ease the burden of rising raw material costs. Other topics included ▲differentiation of minimum wage by industry and company size ▲improvements to public procurement systems such as lowest price elements ▲and revitalization of business succession.

KSMB Chairman Kim Ki-moon said, "The polarization between large and small-medium enterprises has deepened due to COVID-19, raising concerns about job losses and Korea's economic low growth," adding, "We must create an economic environment where 6.63 million small and medium enterprises, the main drivers of job creation, can work enthusiastically."

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