SungSook Han: “Linking Support for Small Business Owners During Suspension or Closure With Psychological Recovery Systems”

Roundtable Held on Strengthening the Social Safety Net for Small Business Owners Facing Temporary or Permanent Closure

On May 19, the Ministry of SMEs and Startups announced that it held the second session of its Social Safety Net Series, titled the “Roundtable on Strengthening the Social Safety Net for Small Business Owners Facing Temporary or Permanent Closure,” to listen to field opinions regarding the financial burdens, income gaps, and psychological challenges experienced during business suspension or closure.

Sungsook Han, Minister of SMEs and Startups

This roundtable was organized to ensure that a single failure does not lead to livelihood disruption or psychological trauma for small business owners, and to establish a social safety net to support their return to daily life. The event took place at Guro Easy Academy, a facility that provides retraining programs for small business owners preparing for business relaunch or industry change after closure. On this day, SungSook Han, Minister of SMEs and Startups, listened to the opinions of small business owners participating in the training program.

Afterwards, Minister Han moved to the nearby Guro Machine Tool Shopping Center, where she held a roundtable discussion with around 10 participants, including small business owners who have experienced psychological recovery and business relaunch after closure, policy experts, and representatives of the shopping center association. During the case presentation, CEO Seo Yeonju shared her experience of contemplating temporary business suspension due to pregnancy and childcare but ultimately deciding to permanently close because of the burden of fixed costs such as rent and utilities. She emphasized the need to strengthen the social safety net during the suspension phase so that temporary crises do not directly lead to business closure. Additionally, CEO Kim Hyejin shared the significance of psychological recovery support in the process of regaining composure and returning to daily life after closure.

Minister Han stated, “For small business owners, suspension or closure is not simply about shutting down a store—it is a process that shakes both their livelihoods and mental well-being. We will tightly link support for the suspension and closure process with psychological recovery systems so that a single setback does not result in lasting livelihood disruption or emotional trauma.”

The Ministry of SMEs and Startups plans to continue holding follow-up roundtables on topics such as health and retirement safety nets for small business owners, and systematically build a comprehensive social safety net that covers the entire life cycle of small business owners—from childcare and health care to social insurance, policy insurance, psychological recovery, and mutual aid.

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