Jin-O Kim, Newly Appointed Vice Chairperson of the Low Fertility and Aging Society Committee, Visits Korea Federation of SMEs

SME Sector Calls for Tailored, On-the-Ground Support

The Korea Federation of SMEs announced on May 13 that it held an introductory meeting with Jin-oh Kim, the newly appointed Senior Vice Chairman of the Presidential Committee on Low Fertility and Aging Society, at its Yeouido headquarters, where they discussed current issues related to low birth rates and support measures for small and medium-sized enterprises.

Kim Kimoon, Chairman of the Korea Federation of SMEs, stated, "The Presidential Committee on Low Fertility and Aging Society is being expanded and reorganized into the Population Strategy Committee. I expect that Senior Vice Chairman Jin-oh Kim, based on his expertise, will serve effectively as the control tower to address our nation's population crisis."

Chairman Kim added, "Last year, the total fertility rate increased to 0.8, and the number of births saw the largest rise in 15 years, showing positive momentum. It is crucial to maintain this hard-won upward trend."

He continued, "Tailored support measures that consider the realities of SMEs—such as heavy workloads for colleagues, and difficulties in hiring replacement workers due to tight staffing—are needed, along with tax and fiscal incentives that are perceptible at the field level." "The SME sector will also actively support the spread of a culture that balances work and family by promoting related systems and identifying best practices," he said.

Senior Vice Chairman Jin-oh Kim commented, "In order to address low birth rates, efforts at the field level centered on businesses are most important. It is essential to establish a family-friendly culture so that SME workers can utilize work-family balance policies without burden." He went on to say, "We will continue to communicate to ensure that SMEs are not left out of work-family balance systems due to labor shortages and cost burdens, and will strengthen effective support measures in cooperation with relevant ministries, local governments, and the private sector."