Ministry of SMEs Union: "Reduction and Merger of Ministry of SMEs Is a Regression to the Past"

[Asia Economy Reporter Choi Dong-hyun] The Small and Medium Venture Business Administration Employees' Union expressed concerns on the 28th regarding the possibility of downsizing the Small and Medium Venture Business Administration or merging it with other ministries, which has been raised by some quarters.

In a statement released that day, the union said, "Even as recently as the last presidential election, both ruling and opposition parties raised their voices in support of the necessity of the Small and Medium Venture Business Administration, but now, just five years later, we hear talks about splitting its functions and transferring them to the Ministry of Science and ICT and the Ministry of Trade, Industry and Energy, as well as considering organizational mergers." They added, "This goes beyond conservative and progressive views; it contradicts the historical trend of the state fulfilling its constitutional duty to small and medium enterprises and represents a regression to the period before the establishment of the Small and Medium Business Administration in 1996."

The union also questioned, "Has the state fulfilled its constitutional obligation to foster and protect small and medium enterprises?" and pointed out, "Although South Korea has entered the ranks of advanced countries, the economy remains dependent on large corporations."

Furthermore, the union emphasized, "President-elect Yoon Seok-yeol promised the public during the presidential campaign a 'policy vision for small and medium enterprises,' including support for their sustainable growth and improvements to the delivery price system." They raised their voice, saying, "However, while seeking efficiency in government organization, there is serious concern that the state's responsibility to protect and nurture small and medium enterprises may be compromised."

They continued, "The complete recovery of small business owners and self-employed individuals after COVID-19 and the establishment of a growth ladder for small and medium enterprises have become an urgent mission of our times," and stressed, "To accomplish this, the government organization must be restructured to realize the constitutional value of protecting and fostering small and medium enterprises."

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