Jung Hyun-sik, Franchise Association Chairman, "We Will Establish the Basic Act on Service Industry Development to Strengthen Competitiveness"

(From the 5th person from the left in the front row) Attendees including Congressman Lee Won-wook, Jung Hyun-sik, President of the Korea Franchise Industry Association, Choi Jung-kyung, the 3rd President of the Korea Service Industry Federation, Congressman Chu Kyung-ho, and Kim Yong-beom, 1st Vice Minister of the Ministry of Economy and Finance, are taking a photo.

[Asia Economy Reporter Lee Seon-ae] "We will represent the service industry to promote industrial competitiveness enhancement and advancement."

Jung Hyun-sik, elected as the 4th President of the Korea Service Industry Federation, and the 7th President of the Korea Franchise Industry Association, expressed his strong commitment to actively lead the strengthening of competitiveness in the service industry.

According to the Korea Franchise Industry Association on the 4th, at the 'Korea Service Industry Federation Inauguration and Farewell Ceremony' held on the 2nd at the Bankers Club in the Bankers Hall, Myeong-dong, Jung said, "The service industry accounts for about 60% of GDP and 70% of total employment, creating enormous high added value as a key national industry." However, compared to advanced countries that implement national-level fostering policies, Korea has not even established the 'Service Industry Development Framework Act,' which is the legal basis for fostering, making quality improvement and competitiveness enhancement difficult."

He continued, "I will lead the passage of the Service Industry Development Framework Act in the National Assembly to establish a legal foundation for industry promotion, and strive to make the service industry a future growth engine by promoting global competitiveness enhancement, improving awareness, elevating the status of service industry workers, strengthening unity among members, and enhancing their rights and interests."

Choi Joong-kyung, the outgoing 3rd President (President of the Korea Institute of Certified Public Accountants), responded in his farewell speech, "I ask for the cooperation and participation of members so that our federation can make a leap forward through the excellent experience and leadership of President Jung Hyun-sik."

Lee Won-wook, a member of the National Assembly from the Democratic Party, and Chu Kyung-ho, a member of the National Assembly from the United Future Party, also stated, "We will actively work for the passage of the Service Industry Development Framework Act in the National Assembly," and Kim Yong-beom, the 1st Vice Minister of Strategy and Finance, said, "We will do our best to foster and develop the service industry."

At the inauguration and farewell ceremony, about 50 people attended, including heads of affiliated organizations such as Park In-bok, President of the Korea Federation of Small and Medium Enterprises and Small Business, Park Jae-sik, President of the Korea Federation of Savings Banks, Kim Joo-hyun, President of the Credit Finance Association, Choi Woong-cheol, President of the Korea Gallery Association, Ko Ki-seok, President of the Korea Intellectual Property Service Association, Lee Yoo-won, President of the Korea Academy Federation, Seok Jae-min, President of the Korea PCO Association, Lee Gil-hyung, President of the Korea Design Organizations Federation, as well as representatives from the Korea Consulting Industry Association, Korea IT Service Industry Association, Korea Hotel Association, Korea Engineering Association, and Korea Hospital Association.

Founded in 2012, the Korea Service Industry Federation is a non-profit corporation composed of organizations and experts covering all fields of the service industry, including franchise accounting, medical, exhibition, hotel, finance, software, knowledge services, architecture, engineering, design, golf, shipping, and academies.

The main activities include ▲proposing policies to revitalize the service industry ▲public relations activities related to the service industry ▲research, consulting, and training related to the service industry ▲exchange and cooperation with overseas service industry organizations ▲information exchange and rights protection for member companies.