Small and Medium Business Ombudsman Awards 79 Officials and Entrepreneurs for Exempting Business Owners Deceived by Youth

'2024 Korea Small and Medium Business Regulatory Innovation Awards' Ceremony
Ombudsman Choi Seungjae Emphasizes "Promoting Regulatory Innovation Reflecting Field Voices"

The Small and Medium Business Ombudsman awarded 79 individuals, including public officials who established exemption regulations allowing business owners deceived by youths to avoid punishment, and small and medium-sized entrepreneurs and small business owners who have led social contribution, regional development, and technological innovation.

On the 16th, Ombudsman Choi Seung-jae held the '2024 Korea Small and Medium Business Regulatory Innovation Awards' ceremony jointly with IBK Industrial Bank of Korea at the Diamond Hall of The Plaza Hotel in Jung-gu, Seoul. He performed a hammer-smashing act to break down the 'old regulatory barriers' that hinder business growth, pledging efforts for active regulatory innovation.

Choi Seung-jae, Small and Medium Business Ombudsman (third from the left), and Kim Sung-tae, President of IBK Industrial Bank of Korea (fourth from the left), are performing a regulatory innovation act at the '2024 Korea Small and Medium Business Regulatory Innovation Awards' held on the 16th at The Plaza Hotel in Jung-gu, Seoul.

Oh Young-joo, Minister of the Ministry of SMEs and Startups, said in a video congratulatory message, "This awards ceremony is an occasion to reaffirm the importance of regulatory innovation for the development of small and medium enterprises. The Ministry of SMEs and Startups will boldly innovate irrational regulations experienced by businesses on the ground and continuously reform unreasonable regulations and practices to support small and medium enterprises to grow freely."

At the ceremony, Deputy Director Gu Bon-gyu of the Ministry of Government Legislation received the Geunjeong Medal for leading various regulatory innovations and legislative improvements to minimize public inconvenience before and after the implementation of the 'full age system.' Deputy Director Gu identified cases where youths intentionally caused legal violations by using forged or altered IDs, causing unfair damage to business operators. He proposed amendments to six laws, including the 'Youth Protection Act,' establishing exemption regulations that allow business operators to be exempt from sanctions such as business suspension.

Lee Kang-hee, Director of the Food and Drug Safety Office, who successfully led food and drug regulatory innovation through the 'Food and Drug Regulatory Innovation 3.0' project to alleviate inconveniences for small business owners, and Park Hwa-sun, Director of the Korea Federation of SMEs, who contributed to improving business succession support systems such as the introduction of succession advisory programs, received the Presidential Citation.

Park Sung-jin, CEO of SJ Tanker, who has led efforts to return corporate profits to society through various sponsorships and fundraising events supporting vulnerable groups, and Song Jin-ho and Song Seong-mo, CEOs of Sejong Technology Co., Ltd., who succeeded in independent technology development in the railway equipment and rail sector, realizing the localization of parts markets previously dependent on the US and Europe, along with 26 other companies, received the 'Really Good Small and Medium Enterprise Award' from the Deputy Prime Minister and Minister of Economy and Finance, the Minister of SMEs and Startups, the Small and Medium Business Ombudsman, and the IBK Bank President.

Additionally, Kim Byung-gon, CEO of Jowon Market Co., who worked hard to revive traditional markets and small shops amid various economic crises such as the COVID-19 pandemic, received the Minister of SMEs and Startups Citation in the small business category.

Ombudsman Choi emphasized, "Regulatory innovation is an important task that improves the constitution of the Korean economy and provides new growth engines for companies," adding, "The Small and Medium Business Ombudsman will listen to voices from the field and create an environment where companies can grow freely through regulatory innovation."