Choo Kyung-ho, Floor Leader of the People Power Party, Visits Korea Federation of SMEs

The Korea Federation of Small and Medium Business (Kbiz) announced on the afternoon of the 17th that it held a meeting with Choo Kyung-ho, the floor leader, and members of the People Power Party who visited the Kbiz headquarters in Yeouido, to discuss legislative tasks related to small and medium enterprises (SMEs) to be addressed in the 22nd National Assembly.

At the meeting, Kim Ki-moon, chairman of Kbiz, stated, “In the 21st National Assembly, through the efforts of the government and the ruling party, the delivery payment linkage system, a long-standing issue for SMEs for 14 years, was introduced, and the corporate succession bill also saw significant achievements, such as increasing the deduction limit for both pre-gift and post-inheritance to 60 billion KRW. However, it is very regrettable that the Small and Medium Enterprise Cooperative Act, which exempts collusion from transactions between SMEs and large corporations, was not properly promoted despite passing the relevant standing committee, and was ultimately discarded.”

He also conveyed key SME legislative tasks hoped for in the 22nd National Assembly, including ▲supplementing the Serious Accident Punishment Act legislation ▲flexibilization of working hours system ▲activation of cooperative joint projects.

Chairman Kim said, “These are issues that must be resolved despite difficulties, and in particular, the ‘postponement of the application of the Serious Accident Punishment Act to workplaces with fewer than 50 employees’ is included in the People Power Party’s first bill, the 'Minsheng Sympathy 531 Bill,' so I hope it will be resolved without fail.”

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