Yoon Holds Lunch with Small and Medium Business Community... "Government, SMEs, and Large Corporations Must Become One Team"

"Now the private sector leads and the government supports... We will push with all our might"

President Yoon Suk-yeol met with representatives from the small and medium-sized enterprises (SMEs) sector on the 14th and stated, "The government, SMEs, and large corporations must become one team." President Yoon also expressed the government's strong commitment to support, emphasizing growth led by the private sector.

On the same day, President Yoon held a lunch meeting with the SME sector at the Korea Federation of SMEs in Yeouido, reaffirming the cooperative will between businesses and the government.

In particular, during his opening remarks, President Yoon evaluated, "In the past, the government led from the front and the private sector followed, but now the private sector leads and the government supports from behind." He added, "The government, SMEs, and large corporations must become one team," emphasizing, "The government will push forward with all its strength as much as you run." President Yoon also wrote in the guestbook, "Let’s create a history of success as one team of businesses and government."

President Yoon Suk-yeol is speaking during a lunch meeting with small and medium-sized enterprises at the Korea Federation of SMEs in Yeouido, Seoul, on the 14th.
[Photo by Yonhap News]

The meeting was attended by over 40 SME representatives, including Kim Ki-moon, Chairman of the Korea Federation of SMEs, who shared on-site opinions regarding government policies.

Kim Ki-moon, Chairman of the Korea Federation of SMEs, stated, "Due to recent economic conditions such as soaring raw material prices and high exchange rates, SMEs and small business owners are going through difficult times," and expressed the opinion that the SME sector’s views should be promptly reflected on the ground to expand exports, investment, and employment. Choi Woo-gak, Chairman of the Daegu-Gyeongbuk SME Association, said, "Although Korea-Japan relations had deteriorated causing many difficulties, the recent Korea-Japan summit has opened the way for export improvements."

Kwon Hyuk-hong, Senior Vice Chairman of the Korea Federation of SMEs, said, "After confirming the government’s reform and labor reform will, we have decided to invest 300 billion won in equipment that had been postponed." Additionally, Yoon Hak-soo, Chairman of the Korea Specialty Contractors Association, stated, "Due to the government’s principled response, illegal acts such as construction union hiring coercion and improper demands for money have virtually disappeared on site," and added, "Our construction business operators will also make efforts for self-purification."

In response, President Yoon instructed, "Minister Lee Young and Chief Secretary Choi Sang-mok, along with the party, should carefully address and resolve the difficulties faced by businesses." Park Dae-chul, Chairman of the People Power Party Policy Committee, who attended the meeting, and others agreed to reflect the SME sector’s proposals as much as possible in policy.