Mid-sized Companies Call for "Bold Tax Support"... Choo Kyung-ho Responds with Commitment to Further Economic Regulation Innovation

On the 26th, Junggyeonryeon Hosts 'Deputy Prime Minister Choo Kyung-ho's Dialogue with Mid-sized Business Leaders'

There was an opinion that concrete and proactive policy efforts should be expedited so that the 'Special Act on Medium-sized Enterprises,' which was converted into a permanent law this year, can be recorded as a starting point for the economic leap forward.

Choi Jin-sik, chairman of the Korea Federation of Medium-sized Enterprises, stated this at the 'Dialogue between Deputy Prime Minister Choo Kyung-ho and Medium-sized Entrepreneurs' held on the 26th. He emphasized, "The Special Act on Medium-sized Enterprises is not a formal reappraisal of the value and status of medium-sized enterprises, but a practical prescription to build the most rapid and effective stable economic system that supports not only overcoming crises but also sustainable growth."

On the 26th, Choi Jin-sik, Chairman of the Korea Federation of Medium-sized Enterprises, is giving a welcoming speech at the "Dialogue between Deputy Prime Minister Choo Kyung-ho and Medium-sized Businesspeople."

Chairman Choi continued, "We must review all policy areas including taxation, finance, export, and succession, and maximize the vitality and performance of medium-sized enterprises through bold, proactive, and groundbreaking changes that meet the specific needs on the ground."

The dialogue with Deputy Prime Minister Choo Kyung-ho was arranged to share the current awareness of medium-sized enterprises and explore directions for improving medium-sized enterprise policies ahead of the announcement of the economic policy direction for the second half of the year. The Federation of Medium-sized Enterprises delivered to Deputy Prime Minister Choo a 'Policy Proposal for Investment Promotion and Economic Revitalization for Medium-sized Enterprises,' consisting of 25 policy tasks in four areas: promotion of investment activation, advancement of labor policies and support for job creation, support for sustainable management, and more.

Medium-sized entrepreneurs attending the site urged institutional improvements and legislative and policy initiatives such as bold tax support for strategic industries, strengthening penalties for core technology leakage, simplification of corporate tax brackets and reduction of tax rates, flexibilization of working hour systems, supplementary legislation on the Serious Accidents Punishment Act, improvement of the employment permit system for foreign workers, legislation of the Special Act on Local Investment Promotion, reduction of inheritance tax rates, and allowance of installment payment of inheritance tax secured by unlisted stocks.

Deputy Prime Minister Choo said, "We will further strive to innovate economic regulations by removing obstacles to corporate activities," and added, "We will strengthen support for management innovation and advancement of technology and processes so that medium-sized enterprises can quickly adapt to external environmental changes such as global supply chain restructuring, digital and green transitions, and the spread of ESG."

Chairman Choi also said, "The medium-sized enterprise sector clearly recognizes its mission as the 'backbone' of our economy and will do its best to contribute to overcoming crises and economic leap forward through active investment, creation of more quality jobs, and strengthening global competitiveness."

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