Sojinkong, Organizational Restructuring Ahead of 5th Disaster Relief Fund Payment... Establishment of 'Hope Support Office'

Jonghwan Jo, President of Sojin Gong / Photo by Honam Moon munonam@

[Asia Economy Reporter Kim Bo-kyung] The Small Enterprise and Market Service announced on the 2nd that it has reorganized its organization as of the 1st to support the recovery of small business owners affected by the prolonged COVID-19 pandemic and to realize ESG (Environmental, Social, and Governance) values.

According to this reorganization, the headquarters of the Service will be operated with 7 divisions, 24 offices, and 14 teams, reorganized from the previous 7 divisions, 23 offices, and 11 teams.

In particular, the focus was placed on strengthening the support system for the Small Business Hope Recovery Fund (5th disaster relief fund) and loss compensation payments. The existing Disaster Relief Task Force was reorganized into a formal organization by establishing the newly created 'Hope Support Office' to exclusively handle disaster relief funds. The Hope Support Office operates with two teams: the Hope Support Team, which oversees the operation of disaster relief funds, and the Hope System Team, which manages the disaster relief fund system.

Additionally, the Financial Business Division has formed the Financial General Team, the Market and Commercial District Division has the Market General Team, and the Small Business Division has the Small Business General Team, which is expected to strengthen systematic strategy establishment and cooperation with external organizations by division.

Efforts to reorganize the organization to realize ESG management, a recent hot topic, were also added. Instead of separating the general affairs and accounting functions of the existing Management Support Office's General Affairs and Accounting Team, it was reorganized into a General Affairs Team that strengthens the overall function of Environmental Management (E). The Social Value Office also strengthened its leading role in practicing ESG management.

The reorganization was promoted through internal and external opinion gathering and board resolution in line with the government's economic policy direction to support small business owners' damage recovery and business normalization.

Cho Bong-hwan, Chairman of the Small Enterprise and Market Service, said, "We have reorganized the organization to maximize the Service's capabilities with the goal of the swift and stable recovery of small business owners affected by COVID-19," adding, "In the second half of the year, we will continue to support damage recovery and provide various policy supports to expand growth engines for small business owners and traditional markets in the post-COVID-19 era."