"Sales Plunge After Internal Conflict"…Democratic Small Business Association Pressures Formation of 'National Consultation Body'

The Democratic Party of Korea's National Small Business Committee requested on the 17th that all parliamentary parties, the government, and representatives of small business owners accelerate the formation of a national stability consultative body.

In a press release distributed that day, the committee stated, "Since the 12.3 Yoon Seok-yeol insurrection incident, large corporations, small and medium enterprises, and venture companies alike have been driven to the worst brink," expressing this view. They added, "Following the political insurrection, we are now facing an economic insurrection," explaining that "as year-end events are being canceled one after another, sales in sectors such as dining, event agencies, and lodging have sharply declined."

The committee said, "Now that the impeachment motion has been passed and the president's duties have been suspended, all political and economic actors must unite to minimize national chaos and stabilize the lives of the people," emphasizing, "It is urgent to stop political strife and establish bipartisan cooperation to overcome the livelihood and economic crisis."

They further stated, "a national stability consultative body including parliamentary parties, the government, and representatives of small business owners should serve as an economic and livelihood control tower and jointly create a path to overcome the crisis.

Lee Jae-myung, leader of the Democratic Party of Korea, is delivering a congratulatory speech at the launch ceremony of the National Small Business Committee held on the 15th at the main auditorium of the National Assembly Library in Yeouido, Seoul. Photo by Kim Hyun-min kimhyun81@

They also stressed, "The Small Business Debt Relief Support Act, the Online Platform Act, and the Distribution Industry Development Act are bills proposed to provide at least a safety net for small business owners driven to the brink," and urged, "Livelihood bills that save people's lives must be passed as soon as possible."

The committee also requested discussions on a supplementary budget to secure livelihood funds. They said, "The Democratic Party, in a situation where the government shows no will to increase the livelihood budget, inevitably passed a reduced budget to fulfill the responsibility of processing the budget within the legal deadline," adding, "Since financial capacity was secured through the reduced budget, the necessary budget for livelihood and economic recovery should be increased through a supplementary budget."

In particular, they argued, "A budget for local love gift certificates, which serve as a catalyst for revitalizing neighborhood commercial districts, must be secured, and measures to compensate for damages caused by the Yoon Seok-yeol insurrection incident should also be prepared through the supplementary budget."

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