Former Minister of Land, Infrastructure and Transport Noh Hyung-wook: "Comprehensive Step-by-Step Measures Needed for Small Business Owners"

Gwangju Small Business Association Invitation Meeting

No Hyung-wook, Director of the Economic and Land Transport Research Institute (former Minister of Land, Infrastructure and Transport), argued that comprehensive measures for small business owners should be devised, going beyond simple financial benefits to include step-by-step support from startup to growth.

On the morning of the 7th, Director No held a meeting at the Gwangju Metropolitan City Small Business Association's main conference room, invited by the Small Business Association, where Chairman Lee Gi-seong and heads of industry-specific organizations gathered to listen to the difficulties faced by small business owners.

The meeting was attended by Lee Gi-seong, Chairman of the Gwangju Small Business Association, along with Auditor Kim Hwang-gyeong, Director Jeong Seung-chae, and other association executives; Lee Gyeong-su, Chairman of the Nam-gu Promotion Committee; Vice Chairmen Lee Young-seok and Lee Eun-seon; small business representatives Baek Ji-yoon and Choi Seong-su; and Choi Chan-ho, Head of the Small and Medium Business News, and Lee Sang-hee, Editor-in-Chief.

Chairman Lee Gi-seong stated, “There are about 190,000 small business operators in the Gwangju area who run livelihood-type self-employed businesses, employing approximately 270,000 people. With your extensive experience in national administration, having served as Deputy Minister of Strategy and Finance, Chief of the Office for Government Policy Coordination, and Minister of Land, Infrastructure and Transport, we ask you to contribute to the development of the small business community in Gwangju, which numbers in the hundreds of thousands.”

He added, “If it is difficult to issue local love gift certificates that benefit small business owners, a government-level measure is needed to allow the use of Onnuri gift certificates for small business owners.”

Participant A said, “Simple financial support is only a temporary fix, and the burden of increased interest due to high interest rates and repayment of existing loans is significant. Rather than just giving fish, more fundamental measures are needed to teach how to fish.”

Another participant, B, said, “A considerable number of small business owners have experienced business closure. Since polarization is severe even among the self-employed, active promotional support through SNS or YouTube is urgently needed for small business owners who lack marketing skills.”

In response, Director No emphasized, “The answer to the problem is always on the ground. Small business owners play a key role in the local economy, and I absolutely agree with the opinion that long-term comprehensive measures, including marketing beyond simple financial support, are necessary.”

He further added, “Although the major trends in distribution cannot be changed, we must foster ‘small but strong stores, small but attractive stores’ through the establishment of various infrastructures. In particular, rather than temporary support, step-by-step support measures from startup to growth must be prepared.”

Meanwhile, Director No, a native of Gwangju, entered public service through the Administrative Examination, served as Deputy Minister at the Ministry of Strategy and Finance, and held positions as Chief of the Office for Government Policy Coordination and Minister of Land, Infrastructure and Transport under the Moon Jae-in administration. He is preparing to run in next year’s general election for the Gwangju Dongnam (Gap) district.