Oh Se-hoon Holds Series of Meetings with Economic Cooperation Organizations Including Korea Chamber of Commerce and Industry to Hear Corporate Difficulties

KCCI on 28th, Korea Federation of SMEs on 29th Close Meetings with Economic Organizations
Exploring Support Directions for Economic Issues Including Growth Support for Mid-sized and Small Businesses

[Image source=Yonhap News]

[Asia Economy Reporter Lim Cheol-young] On the 28th, the Seoul Metropolitan Government announced that it will consecutively hold meetings to discuss economic issues in Seoul with the Korea Chamber of Commerce and Industry and the Korea Federation of Small and Medium Business.

These meetings were organized to find ways to overcome the global complex economic crisis. On the 28th, Seoul invited three committees of the Korea Chamber of Commerce and Industry to Seoul City Hall to hold a meeting to discuss measures to overcome the economic crisis. Seoul City officials related to policies on economy and tourism, including Mayor Oh Se-hoon, will attend, and the Korea Chamber of Commerce and Industry will be represented by the executive vice president and 18 committee chairpersons from the three committees.

They will listen to corporate opinions on funds for the growth of small and medium-sized enterprises (SMEs) and mid-sized companies, expansion of support for research and development (R&D), increased subsidies for substitute personnel during parental leave, and expanded budget support for social value management (ESG) of SMEs. They will also discuss plans to revitalize the Myeongdong commercial district, which has been stagnant since COVID-19. Seoul plans to strengthen the ‘corporate support system’ in cooperation with the Korea Chamber of Commerce and Industry to identify corporate difficulties and review support measures available at the Seoul city level.

On the second day of the economic issue meetings, the 29th, Mayor Oh Se-hoon will visit the headquarters of the Korea Federation of Small and Medium Business. The meeting will be attended by representatives from the Korea Federation of Small and Medium Business, Seoul City, and the government. Representatives from Seoul City, the Korea Federation of Small and Medium Business, and the government will attend the meeting.

The meeting will discuss current issues such as expanding management safety support for small businesses that still find recovery difficult after COVID-19, cooperation in the distribution of electric vehicle charging stations, and establishing cooperative systems among SME cooperatives to revitalize the tourism industry.

Seoul City has provided unpaid leave subsidies to small business owners and workers of small enterprises suffering from employment instability due to the prolonged COVID-19 pandemic, and supported new hiring labor costs for small business owners who reopened after closing due to COVID-19. In addition, to prevent chain bankruptcies of SMEs struggling due to unpaid accounts receivable from delivered goods, Seoul has supported subscription to trade credit insurance, helping normalize management for companies and small business owners.

Currently, Seoul City is cooperating with the Korea Federation of Small and Medium Business to support the establishment of strategies, consulting, and education for environmental, social, and governance (ESG) responses targeting SMEs in the Seoul area. Since 2012, Seoul has continued cooperation to prevent bankruptcies and stabilize management of small SMEs by supporting interest on loans from the Small and Medium Business Mutual Aid Fund.

Seoul City plans to seek support measures that can practically help in the economic field, such as SME growth support and management support for small business owners, and reflect them in the 2023 municipal administration direction.

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