Deputy Prime Minister Choi Sang-mok: "7.7 Million SMEs Are the Core of National Policy"

First Economic Organization Meeting Since Inauguration
First Held at Korea Federation of SMEs

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, held his first meeting with economic organizations since taking office at the Korea Federation of Small and Medium Business (KOSME) and urged them to actively engage in investment and job creation.

On the 11th, Deputy Prime Minister Choi held a meeting with small and medium-sized business owners at KOSME in Yeouido, Seoul, stating, "Small and medium-sized enterprises are the engine that revitalizes the dynamism of our economy,

and furthermore, they are the core of national governance."

This meeting was the first economic organization meeting held by Deputy Prime Minister Choi since his appointment, attended by many small and medium-sized business owners, including Kim Ki-moon, President of KOSME.

He said, "To resolve the manpower shortage in small and medium-sized enterprises, this year, the inflow of foreign workers will be significantly expanded to about 260,000+α, which is approximately 100,000 more than last year. In particular, if there is a shortage in the E-9 quota for non-professional workers, additional expansion will be considered through discussions at the Foreign Workforce Policy Committee." He also stated, "To establish a growth ladder for small and medium-sized enterprises, we will push to extend the period during which special SME benefits (tax, finance, regulation, etc.) apply after growing into mid-sized companies from 3 years to 5 years, an extension of 2 years."

Regarding the application of the Serious Accident Punishment Act to companies with fewer than 50 employees, he earnestly requested, "I take this opportunity to earnestly ask the National Assembly to swiftly pass legislation before January 27, when the law will be fully applied, considering the urgent appeals from the field." He added, "The government will also expedite the implementation of key projects within the recently announced 'Support Measures for Companies Vulnerable to Serious Accidents,' and will continue to seek additional support measures such as expanding financial support for safety equipment and facilities."

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