[Asia Economy Reporter Kim Daeseop] On the 30th, the small and medium-sized enterprises (SMEs) sector welcomed the support measures such as the deferment of the four major insurance premiums and electricity bills announced at the government's 3rd Emergency Economic Meeting regarding the spread of the novel coronavirus infection (COVID-19).
The Korea Federation of SMEs stated in a commentary that "due to the sharp decline in sales and liquidity crisis caused by COVID-19, there have been unfortunate cases where many small SMEs and small business owners were unable to receive emergency management stabilization funds because they were delinquent in maintenance costs such as insurance premiums and electricity bills," adding, "However, we hope that this policy announcement will alleviate the concerns of small SMEs and small business owners."
The SME sector also emphasized the need for on-site implementation inspections and strengthened follow-up management. The Korea Federation of SMEs said, "However, since the support that small SMEs and small business owners actually feel on the ground is somewhat insufficient, we ask for strengthened follow-up management through continuous monitoring and verification of on-site implementation to ensure the effectiveness of the system."
The SME sector further emphasized, "Our SMEs will also do their best to overcome the crisis caused by COVID-19."
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