Opening of the 'Small and Medium Enterprise Accounting Support Center' at Korea Exchange

"Accounting Regulations That Imposed Excessive Burdens on SMEs Will Be Actively Improved"

On the morning of the 12th, attendees are taking a commemorative photo after the plaque ceremony at the opening ceremony of the 'Small and Medium Enterprise Accounting Support Center' held at the Korea Exchange Seoul headquarters. From the left in the photo: Kim Young-sik, Chairman of the Korean Institute of Certified Public Accountants; Kim So-young, Vice Chairman of the Financial Services Commission; Son Byung-doo, Chairman of the Korea Exchange; Kim Ui-hyung, President of the Korea Accounting Standards Board. / Photo by Korea Exchange

[Asia Economy Reporter Myung-Hwan Lee] The 'Small and Medium Enterprise (SME) Accounting Support Center' has opened at the Korea Exchange to alleviate the burden on SMEs lacking accounting capabilities.

On the morning of the 12th, the Financial Services Commission and the Korea Exchange held an opening ceremony for the Accounting Support Center on the first floor of the Korea Exchange Seoul building in Yeouido.

At the opening ceremony, Kim So-Young, Vice Chairman of the Financial Services Commission, Son Byung-Doo, Chairman of the Korea Exchange, Kim Young-Sik, President of the Korean Institute of Certified Public Accountants, along with representatives from the Listed Companies Association, KOSDAQ Association, and major accounting firms, were present.

The newly established SME Accounting Support Center was set up as a follow-up measure to the rationalization plan for SME accounting burdens announced on the 6th. The center will provide various accounting support services to SMEs, including assistance in preparing responses to accounting standards inquiries, consulting on financial statement preparation, and resolving difficulties related to audit contracts.

In his congratulatory remarks, Vice Chairman Kim said, "I expect the SME Accounting Support Center to serve as a reliable partner throughout the entire process of financial statement preparation and audits for companies, as well as an educational platform to enhance accounting capabilities," adding, "The government will also spare no policy support, actively improving accounting regulations that have imposed excessive burdens on SMEs."

Korea Exchange Chairman Son Byung-Doo stated, "The Accounting Support Center was established to jointly address challenges that are difficult for SMEs to handle alone," and added, "The Exchange will support the center, composed of accounting experts with field experience and expertise, to become a reliable partner providing practical assistance to SMEs."

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