Ministry of SMEs and Startups to Designate Small Business Association as Public-Related Organization

The Ministry of SMEs and Startups is promoting the designation of the Korea Federation of Micro Enterprises as a public-related organization to ensure transparent and rational organizational management.

On the 26th, the Ministry of SMEs and Startups held a policy meeting with the Korea Federation of Micro Enterprises at the Federation's Digital Education Center in Mapo, Seoul.

The meeting was organized to discuss transparent and rational organizational management plans with President Song Chi-young, who was inaugurated as the 5th president of the Korea Federation of Micro Enterprises on the 29th of last month, along with other executives. Additionally, they shared the difficulties faced by small business owners due to domestic demand stagnation, sales decline, high inflation, and high interest rates, and sought directions for the future.

Minister Oh Young-joo of the Ministry of SMEs and Startups said to newly elected President Song Chi-young, "Since you were elected with overwhelming support in this election, I expect you to represent the voices of small business owners and successfully lead change and innovation." He added, "I believe the Korea Federation of Micro Enterprises needs to be reborn as a transparent and rational organization that meets the expectations and standards of the public and the industry, and I highly appreciate that the executives fully recognize the necessity of designation as a public-related organization."

If the Ministry of SMEs and Startups applies to the Ministry of Personnel Management to designate the Federation as a public-related organization in October this year, the Public Officials Ethics Committee will review the designation, and it is expected to be officially announced in the government gazette by the Ministry of Personnel Management by the end of this year. Once designated, ethical standards equivalent to those for public officials and regular audits by the Ministry of SMEs and Startups will apply to the affiliated executives and employees.

Furthermore, Minister Oh emphasized, "We will establish a constant hotline with the government, including the Ministry of SMEs and Startups, to strengthen partnerships through sufficient communication. Please convey the difficulties, inconveniences, and areas for improvement in the small business sector so that we can reflect them in policies."

President Song Chi-young responded, "As the self-employed ecosystem is collapsing due to rapid changes in the distribution environment and a consumption cliff causing domestic demand stagnation, we are going through a harsh trial period. We are grateful that the government has prepared and implemented support measures such as the financial 'three-set,' delivery fee and electricity fee support, and domestic demand revitalization promotion."

He added, "We will develop, grow, and transform into a transparent, fair, and harmonious organization that works as one team with member organizations by industry and regional organizations, providing practical help to small business owners and offering opportunities, courage, and hope. If necessary during this process, we will actively cooperate and align with the designation as a public-related organization."

Meanwhile, the policy meeting was attended by Minister Oh, President Song, Senior Vice President Lim Soo-taek, and 12 newly appointed executives. The new executives, who serve as heads of industry-specific organizations, conveyed the vivid voices from the field without reservation regarding minimum wage, financial support, delivery fee support, and more.