KCCI: "Premature to Pass Payment Linkage System in National Assembly... Pilot Project Should Have Been Conducted"

Commentary on the 8th... "Ongoing Supplementation of Current Law Conflicts and SME Innovation Plans"

[Asia Economy Reporter Choi Seoyoon] The Korea Chamber of Commerce and Industry (KCCI) expressed regret on the 8th over the passage of the Payment Price Linkage System (Amendment to the Win-Win Cooperation Act) in the National Assembly plenary session.

In a statement, KCCI said, "The amendment to the Win-Win Cooperation Act, which includes a payment price linkage system unprecedented in global legislation, has passed the National Assembly without resolving the concerns of the business community," adding, "It is regrettable that the legislation was pushed through forcibly instead of verifying the side effects of the linkage system through a pilot project before legalizing it."

The organization pointed out, "It is necessary to continuously review and supplement measures to minimize the side effects of the payment price linkage system legislation, which the business community has raised concerns about, including resolving conflicts with existing laws and devising innovation plans for small and medium-sized enterprises."