Kwon Chil-seung "Disaster Relief Funds and Loss Compensation Are Meaningful... Should Not Be Bogged Down in Legalities"

First Schedule After Appointment as Minister of SMEs and Startups
Meeting Small Business Owners to Hear Their Difficulties
"Disputes Among Financial Ministries Are Natural"

Minister Kwon Chil-seung of the Ministry of SMEs and Startups is visiting Dream Square in Mapo-gu, Seoul on the 5th to experience the Smart Store. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Kim Bo-kyung] Kwon Chil-seung, the newly appointed Minister of SMEs and Startups, said on the 5th, "When looking back, disaster relief funds also have the meaning of loss compensation."

He emphasized the 'first disaster relief funds, then loss compensation system' approach, stating that legal issues should be resolved after the execution of disaster relief funds.

On the morning of the same day, Minister Kwon visited Dream Square located in Mapo-gu, Seoul, as his first official activity after taking office, and listened to the difficulties faced by small business owners.

After completing his first schedule, in response to reporters' questions regarding the loss compensation system, he said, "Before considering legalities, we need to find a way that actually helps small business owners and provides benefits in a substantial manner."

Minister Kwon mentioned disaster relief funds as the most rapid measure to provide practical assistance to small business owners affected by COVID-19.

He said, "Among various options, we must first take the fastest path. We need to find out which method of implementation is the quickest."

He added, "When looking back, disaster relief funds have the meaning of loss compensation, don't they?" and stated, "We are not in a situation to leisurely debate whether 'that was loss compensation or not.'"

Regarding the discord between ministries and the ruling party over the method and scale of disaster relief funds, he said, "Each ministry has slightly different opinions on the limits of the budget," and added, "It is natural for government ministries to have different positions and debate."

Minister Kwon Chil-seung of the Ministry of SMEs and Startups visited a restaurant in a commercial building in Mapo-gu, Seoul on the 5th and spoke about the New Hope Support Fund./Photo by Kang Jin-hyung aymsdream@

He reiterated his opinion that the difficulties of small business owners should be promptly supported through disaster relief funds and that they should not be bogged down in legal debates.

Regarding the issue of retroactive application, Minister Kwon said, "Although it is a matter to be legally examined, being too absorbed in difficult legal debates actually makes it harder for small business owners."

He continued, "Since the disaster relief fund method essentially has the nature of loss compensation, it should be executed as soon as the budget is secured, and legal issues should be sorted out afterward as the way to resolve the matter."

Meanwhile, Minister Kwon skipped the inauguration ceremony and chose to visit the field of small business owners as his first schedule. He said, "Because small business owners and self-employed people have been the most affected by COVID-19 and their difficulties have increased as the situation prolonged, I came to support them."