Lee Jae-myung Announces Vision for 'Great Transition to an Era of SME Growth'...Listening to Industry Proposals

Junggi Central Association Announces 'Small and Medium Enterprise Policy Vision'

Lee Jae-myung, the Democratic Party presidential candidate. / Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kim Bo-kyung] On the 24th, Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, held a small and medium-sized enterprise (SME) policy vision presentation at the Korea Federation of SMEs in Yeouido, Seoul.

At the event, Candidate Lee announced his vision for SMEs under the theme "A New Korea, a Great Transition to an Era of SME Growth." Kim Ki-moon, chairman of the Korea Federation of SMEs, said, "Candidate Lee Jae-myung's first pledge, the transformative fair growth policy, will help fairly distribute resources and opportunities concentrated in the hands of a few, resolve the polarization between large and small-to-medium enterprises, and create new growth opportunities for SMEs."

He added, "I hope that the SME policy pledges will become a core national agenda for the next government, leading to a great transition into an 'Era of SME Growth.'"

At the site, major issues were raised, including △ protection of business operations for SMEs and small business owners △ resolution of labor shortages △ exclusion of collusive behavior application to joint actions by SME cooperatives △ expansion of social safety nets for small business owners △ and strengthening the dynamism of SMEs.

Shin Ik-chul, director of the Korea Recycling Maintenance Industry Cooperative, said, "Due to the reckless domestic business expansion by large corporations, SMEs and small business owners feel like they are walking on thin ice," and requested, "Please further strengthen business operation protection systems such as the livelihood-type suitable industry system for small business owners and the competitive product purchase system among SMEs."

Voices were also raised asking for improvements to excessive labor regulations such as the 52-hour workweek, citing that the dual structure of the labor market and labor-biased policies have further exacerbated labor shortages in SMEs. There was also a suggestion that it is necessary to further expand the allowance of joint actions by SME cooperatives to strengthen the digital competitiveness of SMEs.

Im Gil-jae, director of the Chungbuk Chungju City Supermarket Cooperative, said, "To strengthen the social safety net role of the Yellow Umbrella Mutual Aid, a mutual aid system for small enterprises and small business owners, it is necessary to improve tax issues arising when subscribers cancel due to unavoidable reasons and legally supplement the system so that welfare services can be expanded for subscribers."

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