Small and Medium Enterprises Condole Jeon Du-hwan's Death... "Driving Quantitative Growth of SMEs"

Korea Federation of SMEs Issues Statement on the Passing of Former President Jeon Du-hwan

[Image source=Yonhap News]

[Asia Economy Reporter Kim Heeyoon] The small and medium-sized enterprises (SME) sector expressed condolences over the death of former President Jeon Du-hwan.

The Korea Federation of SMEs (Korea Federation) stated in a press release on the 23rd, "During his presidency, the late former president led the quantitative growth of SMEs by promoting a 10-year plan for SME development, fostering 10,000 promising SMEs, and enacting laws to stabilize SME management and promote restructuring."

They added, "As the monopoly and oligopoly problems worsened due to large conglomerate-centered economic policies, he achieved results in protecting and nurturing SMEs through the enactment of the Fair Trade Act."

Former President Jeon Du-hwan passed away at 8:40 a.m. on the same day at the age of 90.

Having suffered from chronic illness, the former president died at his home in Yeonhui-dong, Seodaemun-gu, Seoul. He collapsed at home and was reported to the police and fire department around 8:55 a.m. The police confirmed his death around 9:12 a.m.

The late former president was diagnosed with multiple myeloma, a malignant blood cancer, and had been battling the disease.

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