Kim Hyung-su, Buk-gu Council Member, Establishes Basis for Supporting Small and Medium Enterprise Cooperatives

Expectations for Strengthening Competitiveness of Local Small and Medium Enterprises

[Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Gwangju Buk-gu Council member Kim Hyungsoo announced that the "Ordinance Partially Amending the Ordinance on the Promotion and Support of Small and Medium Enterprises in Buk-gu, Gwangju Metropolitan City" passed the Economic Welfare Committee review on the 17th.

This amendment was proposed to establish a basis for promoting activation policies for small and medium enterprise cooperatives and supporting them, following the amendment of the "Small and Medium Enterprise Act" which included small and medium enterprise cooperatives within the scope of small and medium enterprise operators.

The main contents of the amended ordinance include ▲ implementation of policies to improve distribution structure efficiency ▲ support for joint projects such as joint production and joint sales ▲ matters related to land and facility support.

Through this ordinance, six cooperatives and 229 cooperative member companies within Buk-gu will be able to receive support.

Council member Kim Hyungsoo said, "By stipulating necessary matters for supporting small and medium enterprise cooperatives, we hope to improve the economic status and competitiveness of local small and medium enterprises and become a catalyst for revitalizing the local economy, which is struggling due to COVID-19."

The amended ordinance is scheduled to be finally approved at the 3rd plenary session to be held on the 24th.

Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong bong2910@asiae.co.kr

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