Seoul Area SME Cooperatives Raise 100 Million Won to Provide Joint Business Support Funds

Seoul Area Cooperative Joint Business Support Fund Delivery Ceremony Held

The Korea Federation of SMEs announced on the 15th that it held a ceremony to deliver 100 million KRW in joint business support funds contributed by small and medium-sized enterprise cooperatives in the Seoul area.

Attending the ceremony were Kim Gi-moon, President of the Korea Federation of SMEs; Park Jong-seok, President of the Seoul Small and Medium Business Association; Kim Yoon-jung, Chairman of the Seoul Printing Information Industry Cooperative; Park Ji-yeon, Chairwoman of the Seoul Travel Industry Cooperative; Lee Jung-woo, Chairman of the Seoul Gyeongin Furniture Cooperative; and Ji Yong-seop, Chairman of the Seoul Machinery Industry Cooperative.

The contributions were raised by 31 small and medium-sized enterprise cooperatives in the Seoul area, including 20 million KRW from the Seoul Gyeongin Ready-Mixed Concrete Industry Cooperative and 10 million KRW from the Seoul Northeastern Building Materials Distribution Business Cooperative.

Kim Gi-moon, President of the Korea Federation of SMEs, said, “This year’s joint business support fund contributions are gaining momentum through the voluntary participation of cooperatives, but the scale is still insufficient to fully promote joint business support projects.” He added, “I hope this will serve as a catalyst for more contributions from cooperatives in the Seoul area, and I also expect financial institutions, large corporations, and others beyond cooperatives to join in contributing to help establish a growth foundation for small and medium-sized enterprises.”