Sogongyeon Welcomes 4th Supplementary Budget Passage... Calls for Expanded Support for Closed Small Business Owners

[Asia Economy Reporter Moon Hyewon] The Korea Federation of Micro Enterprise (hereinafter referred to as KFME) demanded the expansion of support for closed small business owners in relation to the 4th supplementary budget worth 7.8 trillion won, which includes the New Hope Fund for Small Business Owners, on the 23rd.

In a statement released that day, KFME said, "We hope this supplementary budget will serve as a catalyst for the recovery of small business owners in emergency situations and for public livelihood," adding, "We highly appreciate the generous cooperation shown by both ruling and opposition parties this time, and hope this will be an opportunity for our political circles to re-recognize the absolute truth that there is no ruling or opposition party in front of public livelihood."

However, it also stated, "It is regrettable that the expansion of support for closed small business owners, which we have continuously emphasized, has not progressed," and added, "Providing only 500,000 won to small business owners who closed after the 16th of last month means that the support targets and amounts need to be further expanded in the future. We will continuously collect complaints from closed small business owners through the 'Closed Small Business Owners Civil Complaint Center' established within the federation and deliver them to the political circles."

KFME also said, "Since the supplementary budget bill adopted a supplementary opinion that the government will actively review measures to improve financial support, tax support, and rent burden relief for small business owners and self-employed persons during the National Assembly's discussion process, we hope this part will also be decided quickly and bear fruit as soon as possible."