SME Meeting with Fair Trade Commission Chairman: "Early Establishment of Delivery Price Linkage System Needed"

Kim Ki-moon, President of the Korea Federation of Small and Medium Business.

[Asia Economy Reporter Donghyun Choi] The Korea Federation of Small and Medium Business (Kbiz) announced on the 13th that it held a meeting with small and medium-sized business owners, inviting Han Ki-jung, Chairman of the Fair Trade Commission, at the Kbiz headquarters in Yeouido, Seoul.

Since his inauguration in September, Chairman Han attended this meeting to listen to the on-site difficulties faced by the SME sector. About 10 small and medium business representatives attended, including Kim Ki-moon, Chairman of Kbiz; Lee Jeong-han, President of the Korea Women Entrepreneurs Association; Kang Sam-kwon, Chairman of the Korea Venture Business Association; Jeong Hyun-sik, Chairman of the Korea Franchise Industry Association; Lim Byung-hoon, Chairman of the Innobiz Association; and Bae Jo-ung, Chairman of the Korea Ready-Mixed Concrete Industrial Cooperative Federation.

The SME representatives at the meeting conveyed 17 vivid on-site difficulties related to unfair trade, including early establishment support for the delivery price linkage system, sanctions against abuse of market-dominant position by raw material supply companies, establishment of relief funds for companies damaged by unfair trade using fines, differentiation of fine imposition rates by company size, institutional improvements to eradicate technology theft and activate relief, prompt revision support of the Subcontracting Act to protect small construction companies, clarification of standards for allowing cooperative joint actions, and expansion of recognition scope, and requested the preparation of improvement measures.

Kim Ki-moon, Chairman of Kbiz, said, "This year was a difficult year to foresee due to triple hardships of high inflation, high interest rates, and high exchange rates, compounded by soaring raw material prices and labor shortages. However, it was a meaningful year as the delivery price linkage system, a long-standing issue for 14 years in the SME sector, was legislated," adding, "I hope the linkage system will be quickly established in the business field and that a voluntary fair trade culture between large and small-medium enterprises will naturally be created."

Han Ki-jung, Chairman of the Fair Trade Commission, stated, "We will carefully review the issues discussed today and solve problems through various methods, including institutional improvements," and added, "We will continue to listen attentively to voices from the field and actively reflect them in policies."

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