Ministry of SMEs and Startups Launches 'Good Consumer' Campaign by Department
11 Affiliated Public Institutions Also Participate
Each Institution and Department Selects About 3 Restaurants
[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 1st that, as part of the Good Consumer Movement to overcome the damage caused by the novel coronavirus infection (COVID-19), it plans to actively support small business owners through the expansion of 'prepayment' in collaboration with 11 affiliated public institutions.
The Good Consumer Movement involves the Small and Medium Business Corporation, Korea Technology Finance Corporation, Small Enterprise and Market Service, Korea Institute of Startup & Entrepreneurship Development, Korea Institute for Advancement of Technology, Korea Small Business Institute, Korea Credit Guarantee Fund Central Association, Korea Venture Investment Corp., Small and Medium Business Distribution Center, Public Home Shopping, and Korea Disabled Enterprise Comprehensive Support Center.
The Ministry of SMEs and Startups will implement proactive administration beyond existing regulations amid the damage to small business owners such as restaurants caused by COVID-19. As the main ministry supporting small business owners, it has prepared this prepayment implementation plan to help overcome losses such as decreased sales. The affiliated public institutions have also agreed to actively participate.
Specifically, each institution and department will select about three restaurants and use department operating expenses to prepay a certain amount. This will be implemented during the first half of the year, after which the possibility of additional implementation will be reviewed.
Considering the lack of clear regulations on prepayment, the Ministry plans to clarify guidelines on payment and usage methods through the 'Proactive Administration Support Committee.' To ensure practical help for affected small business owners, the ministry will continuously monitor performance and other aspects from the perspective of proactive administration.
Minister Park Young-sun of the Ministry of SMEs and Startups said, "Although the amount of this prepayment may not be large, it is very meaningful that the public sector contributes even a small effort to support affected small business owners." She added, "We hope this will serve as an opportunity for active participation from other ministries, public institutions, and the private sector in the future."
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