"There Is an Answer On Site"... Ministry of SMEs and Startups Holds Policy Council for Small Business Owners

Scheduled to be held monthly or bimonthly
Also planned to be reflected in the 'Comprehensive Measures for Small Business Owners and Self-Employed'

The Ministry of SMEs and Startups held a regular consultative body for small business owners, demonstrating its commitment to implementing policies for small business owners and traditional markets that can be felt on the ground.

Minister Oh Young-joo of the Ministry of SMEs and Startups is shaking hands with market merchants after concluding an on-site meeting with small business owners and traditional market associations held on the 3rd at Yongmun Market in Yongsan-gu, Seoul. Photo by Jo Yong-jun jun21@

On the 16th, Minister Oh Young-joo of the Ministry of SMEs and Startups held the 1st "Small Business Owners' Practical Policy Consultation Meeting" with representatives of associations related to small business owners and traditional markets at Dream Square in Mapo-gu, Seoul.

The policy consultation meeting was organized to fulfill the promise of operating a "regular consultative body for small business owners," which Minister Oh made during her candidacy when she visited the Small Business Federation. Attendees included heads of associations representing small business owners nationwide, such as the Small Business Federation president, the National Merchants Federation president, and the Korea Supermarket Cooperative Federation president. The policy consultation meetings are planned to be held monthly or bimonthly going forward.

Minister Oh introduced eight "2024 Changed Small Business Owner Policies" prepared by the government, including electricity bill support for micro small business owners, to overcome difficult management conditions such as high inflation and high interest rates. She also discussed the difficulties small business owners experience in their daily work and the policy directions to address these challenges.

Song Yoo-kyung, president of the Korea Supermarket Cooperative Federation, proposed establishing a system to manage the Small and Medium Distribution Joint Wholesale Logistics Centers on a nationwide scale. In response, Minister Oh stated that an integrated logistics system is planned to be established by the end of this year, and once completed, more than 40,000 stores will be able to efficiently manage inventory and distribution through this system.

Lee Geun, president of the National Hundred-Year Store Association, emphasized the need to support overseas expansion of products from hundred-year stores. Minister Oh said that a new overseas market development program for excellent hundred-year store products will be established, providing a package of support from preparation for overseas expansion to local marketing, and that a plan to qualitatively upgrade hundred-year stores will be prepared within the first quarter of this year.

Hong Ju-seok, chairman of the Local Brand Forum, requested financial support for entrepreneurial small business owners. Minister Oh expressed her intention to create policies for the sustainable growth of entrepreneurial small business owners by establishing special guarantees and introducing new investment programs in the first half of the year, aiming to achieve tangible results for entrepreneurial small business owner policies this year.

Minister Oh said, "The policy consultation meeting is the result of the alignment between my public service philosophy that 'the answer to our problems lies in the field' and the small business sector's demand for communication with the government," adding, "The opinions gathered at the policy consultation meeting will be reflected in the 'Comprehensive Measures for Small Business Owners and Self-Employed' to be announced in the first half of the year, and together with the industry, we will create measures that can be felt on the ground."

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