Korea Federation of SMEs Holds Meeting with Small Business Owners Inviting Choi Sang-mok, Deputy Prime Minister for Economy

The Korea Federation of Small and Medium Business (Kbiz) announced on the 26th that it held a meeting with small and medium business owners, invited by Deputy Prime Minister for Economy Choi Sang-mok, at the Kbiz headquarters in Yeouido.

The meeting was organized to share the achievements of the SME Express, jointly operated by the Ministry of Economy and Finance and Kbiz, and to discuss the recent on-site difficulties faced by small and medium enterprises and small business owners.

On this day, the Ministry of Economy and Finance was represented by ▲Deputy Prime Minister for Economy Choi Sang-mok ▲Vice Minister Yoon In-dae ▲Director General of Policy Coordination Kang Ki-ryong, and from the Ministry of SMEs and Startups, ▲Director General of Planning and Coordination Lee Dae-hee attended.

From the small and medium business sector, about 40 people attended, including ▲Kbiz Chairman Kim Ki-moon ▲Korea Women Entrepreneurs Association President Lee Jeong-han ▲Federation of Small Businesses President Song Chi-young ▲Korea Venture Capital Association President Yoon Geon-su, as well as heads of small and medium business organizations and chairpersons of industry-specific SME cooperatives.

Before the meeting began, Choo Moon-gap, Head of the Economic Policy Headquarters, who presented the "Public-Private Joint Achievements in Resolving SME Difficulties and Regulatory Innovation," stated, “Thanks to the government’s efforts, 25 out of the 100 on-site regulations selected by SMEs have been reflected as achievements. To promptly resolve SME difficulties (within 30 days), we plan to establish and operate a government and SME Express hotline going forward.”

During the subsequent discussion, six issues and on-site difficulties were addressed, including ▲the prompt advancement of the bill to extend the sunset clause on temporary investment tax credits ▲relief of tax burdens for small enterprises and small business owners under the Yellow Umbrella Mutual Aid.

Kbiz Chairman Kim Ki-moon said, “As economic uncertainty expands recently, small and medium enterprises, small business owners, and self-employed individuals are going through difficult times, so I hope government ministries communicate closely with the field. I also ask for thorough follow-up management so that the SME Express hotline, jointly operated by Kbiz and the Ministry of Economy and Finance, becomes a one-stop platform where SMEs can report on-site difficulties and the government can promptly resolve them.”