SME Sector "Welcomes Regulatory Improvements in the Small and Venture Business Field... Anticipates Follow-up Measures"

[Asia Economy Reporter Kwak Minjae] The small and medium-sized enterprise (SME) sector expressed its welcome on the 17th regarding the government's announcement of the 1st regulatory improvement plan in the small and medium venture business field.

The Korea Federation of SMEs issued a statement on the day, saying, "We highly appreciate the government's proactive will to resolve regulatory difficulties for SMEs in relation to the 1st regulatory improvement plan in the small and medium venture business field."

They added, "We hope that the regulatory burden on SMEs will be alleviated through prompt follow-up measures."

However, they emphasized, "Regarding the previously reviewed, non-regulatory tasks or the first rejected tasks among the proposals submitted by the SME sector in August at the SME Regulatory Reform Grand Debate, efforts should be made to minimize the regulatory difficulties felt on the ground and the gap between systems through additional discussions, and to improve shadow regulations."

Finally, they said, "Since 6 out of the 24 small and medium venture and regulatory innovation tasks announced today require legal amendments, we urge both ruling and opposition parties in the National Assembly to actively cooperate in legislation to reduce unnecessary regulatory burdens on SMEs."

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