Meeting with Park Kwang-on and the SME Sector... Proposals for Revitalizing Business Succession and More

Korea Federation of SMEs Holds Meeting with Floor Leader Park on the 16th
Discusses 26 SME Issues

The small and medium-sized enterprise (SME) sector met with Park Kwang-on, the floor leader of the Democratic Party of Korea, to propose key issues such as revitalizing business succession.

The Korea Federation of SMEs announced on the morning of the 16th that it held a meeting with SME representatives invited by Floor Leader Park at the Federation's office in Yeouido, Yeongdeungpo-gu, Seoul.

Park Kwang-on, Floor Leader of the Democratic Party of Korea. Photo by Kim Hyun-min kimhyun81@

At the meeting, 26 SME-related issues were discussed, including measures to revitalize business succession, exclusion of collusion among cooperatives in inter-company transactions, expansion of private sector participants in the venture and startup ecosystem, enactment of the Event Industry Development Act, and extension of the grace period for the Serious Accident Punishment Act for workplaces with fewer than 50 employees.

About 30 representatives from SME organizations and various industries attended, including Kim Ki-moon, chairman of the Korea Federation of SMEs; Jo In-ho, chairman of the Korea Mechanical Equipment Construction Association; Yoon Geon-su, chairman of the Korea Venture Capital Association; Yoon Mi-ok, chairwoman of the Korea Women Venture Association; Lim Byung-hoon, chairman of the Innobiz Association; and Seok Yong-chan, chairman of the Korea Management Innovation SME Association.

From the Democratic Party, 11 members attended, including Floor Leader Park, Lee Jae-jung, chairman of the Industry, Trade, and SMEs Committee; Kim Han-jung, secretary of the Industry, Trade, and SMEs Committee; Song Ki-heon, senior deputy floor leader; Jung Chun-sook, senior policy deputy floor leader; Min Byung-duk, chief secretary to the floor leader; and Lee So-young, floor spokesperson.

Kim Ki-moon, chairman of the Korea Federation of SMEs, said, “We ask for your cooperation to pass bills that expand the installment payment period for gift tax to 20 years for systematic business succession during the last regular session of the 21st National Assembly, and bills that exclude collusion in inter-company transactions to revitalize joint projects among SMEs.”

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