Medium-sized Business Sector Urges Urgent Introduction of 'Supply Price Linkage System' to Receive Fair Payment

Junggi Joonganghoe Holds Meeting with Small Business Owners Inviting Joseonguk, Chairman of the Fair Trade Commission

(From the 4th person on the front row from the left) Joseph Sung-wook, Chairman of the Fair Trade Commission, Kim Ki-moon, President of the Korea Federation of SMEs. Photo by Korea Federation of SMEs

[Asia Economy Reporter Kim Heeyoon] The Korea Federation of Small and Medium Business (Kbiz) announced on the 20th that it held a meeting with the Fair Trade Commission (FTC) Chairman and small and medium business owners.

At the meeting, about 20 people attended, including FTC Chairman Cho Sung-wook, Kbiz Chairman Kim Ki-moon, Innobiz Association Chairman Lim Byung-hoon, Mainbiz Association Chairman Seok Yong-chan, and chairpersons of industry-specific small and medium business cooperatives, who voiced the difficulties faced by small and medium enterprises regarding unfair trade and proposed improvement measures.

Before the discussion, Chairman Cho Sung-wook explained the "2022 Fair Trade Commission Policy Direction," focusing on implementing a digital fair economy and establishing transaction order among large business groups. He also stated that policies that small and medium business owners can feel on the ground would be pursued.

During the subsequent discussion, the attending small and medium business owners presented 20 field difficulties related to unfair trade, including △ introduction of a delivery price linkage system to alleviate the burden of rising raw material prices △ activation of subcontract payment adjustment consultation system △ establishment of a relief fund for unfair trade victim companies using fines △ differentiation of fine imposition rates by company size △ improvement of punitive damages system △ exclusion of information exchange activities by small and medium business organizations from unfair collusion application, and requested the preparation of improvement measures.

Kbiz Chairman Kim Ki-moon said, "As the issue of not being able to reflect the soaring raw material prices in delivery prices is the biggest difficulty for small and medium business owners, I hope the FTC will actively prepare measures based on field opinions to resolve this."

FTC Chairman Cho Sung-wook stated, "We plan to carefully review the proposals from small and medium business owners and will continue to meet with them to listen to their voices on the ground and strive to reflect them in policies."