Mid-sized Enterprises Sector: "This Year's Economic Policy Direction, Solutions to Boost Economic Vitality"
Korea Federation of Medium-Sized Enterprises Issues Commentary on '2024 Economic Policy Directions'
The mid-sized enterprise sector on the 4th welcomed the 2024 economic policy direction, stating, "We welcome the government's determination and concrete action plans to actively drive corporate investment, which is the core of private-led growth, as a means to overcome the crisis and seek an opportunity for economic re-leap."
The Korea Federation of Mid-sized Enterprises commented on the same day, "Measures such as the one-year extension of the temporary tax credit for facility investment and the 10 percentage point increase in the tax credit rate for increased R&D investment will greatly contribute to expanding the proactiveness of corporate investment, which is essential for securing global competitiveness," adding, "the establishment of the largest-ever 52 trillion won facility investment fund to support corporate innovation investment is an appropriate measure reflecting the government's urgent recognition to respond to rapid changes in the industrial environment."
Additionally, the Federation evaluated, "The temporary regulatory suspension reintroduced after 8 years is part of the government's consistent policy to enhance corporate vitality," and stated, "Along with various regulatory relief platforms such as the Killer Regulation Reform TF, we hope that the suspended regulations will be continuously expanded to function as a stable foundation for corporate growth."
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The Federation further added, "The mid-sized enterprise sector will closely communicate with the government and the National Assembly to ensure that the 2024 economic policy, which seeks a sustainable long-term growth foundation in response to domestic and international environmental changes, operates effectively, and will faithfully fulfill its given role as the backbone of our economy."
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