United Future Party's Special Committee to Revive Small Businesses Takes First Step... "Promoting Differential Minimum Wage Application"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] On the 13th, the United Future Party held the first meeting of the Special Committee for Saving Small Business Owners and began full-scale preparations for countermeasures.

Floor leader Joo Ho-young said at the first meeting held at the National Assembly Members' Office Building that “Our economy had actually been on a downward path even before COVID-19. The cause of this is the failed economic policies of the Moon Jae-in administration,” and added, “The Moon Jae-in government thoroughly believes in income-led growth and does not correct it. They raised the minimum wage sharply and pushed through the 52-hour workweek system without proper preparation.”

Floor leader Joo stated, “Small business owners' ability to pay wages has already exceeded its limit, forcing unavoidable workforce reductions,” and said, “To overcome the economic crisis, our society must pool wisdom, and as one of the methods, we decided to promote support measures such as differential application of minimum wage by industry and size, and expansion of the social safety net for small business owners, and formed the special committee to find concrete alternative methods.”

Policy Committee Chairman Lee Jong-bae said, “Our party recognizes the difficulties of small business owners well and has worked together to overcome them. As the first bill of the 21st National Assembly, we proposed a livelihood support bill to overcome the COVID-19 crisis,” emphasizing, “We will make efforts to ensure it passes as soon as possible.”

[Image source=Yonhap News]

Yoon Young-seok, the chairman of the special committee, said, “Although the recent supplementary budget was passed, there are many criticisms that there is no direct financial support for self-employed and small business owners, so it has no real effect,” and added, “We will discover effective policies.”

Yoon said, “Self-employed and small business owners are in the blind spots of social insurance. Being excluded from various social insurances causes problems when they cannot operate their businesses,” and stated, “Expanding the social safety net for these people is also an area that the special committee should pay close attention to.”