Korea Federation of SMEs Holds '2024 Best National Assembly Member Awards' Ceremony

The Korea Federation of SMEs announced on the 4th that it held the '2024 Best Member of the National Assembly Awards Ceremony.'

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The ceremony was held at the Korea Federation of SMEs building in Yeongdeungpo-gu, Seoul, to select members of the National Assembly who contributed to improving the business environment and protecting the rights of small and medium-sized enterprises (SMEs) over the past year. The grand prize was awarded to Assembly members Park Su-young and Woo Jae-jun (People Power Party) and Kim Won-i and Oh Se-hee (Democratic Party).

Assemblyman Park proposed an amendment to the Restriction of Special Taxation Act to expand the Yellow Umbrella income deduction and also proposed an amendment to the Small and Medium Enterprise Cooperative Act to broaden the scope of joint business support funds to revitalize cooperative joint projects. Assemblyman Woo hosted a forum to ease the punishment levels of the Serious Accident Punishment Act and emphasized the voluntary application of the 52-hour workweek system to strengthen corporate competitiveness, receiving recognition for efforts to improve laws and systems reflecting the realities of SMEs.

Additionally, Assemblyman Kim proposed an amendment to the Fair Transactions in Subcontracting Act to include energy costs in the linkage system for delivery payments and is promoting the introduction of a 'cooperative consultation request right' to strengthen the bargaining power of SMEs. Assemblyman Oh proposed an amendment to the Act on the Promotion of Mutual Growth between Large and Small Enterprises to include energy costs in the delivery payment linkage system and to introduce a 'SME Win-Win Financial Index' by financial companies to promote a fair market economy and a culture of mutual growth.

Kim Ki-moon, Chairman of the Korea Federation of SMEs, said, "Effective laws and systems must be supported to ensure the growth of SMEs and cooperatives," adding, "Even in difficult economic conditions, when the National Assembly, government, and businesses each fulfill their roles and cooperate, we can overcome crises and achieve sustainable growth."

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