Opposition Lawmakers of the Political Affairs Committee Meet with Korea Federation of SMEs in Mid-January
Engage in Public Finance Promotion Agency Meeting and Livelihood Economy Activities
Opposition members of the National Assembly's Political Affairs Committee are engaging in on-site communication to strengthen financial support for ordinary citizens and small business owners. After visiting the Korea Inclusive Finance Agency this month to review the current status of policy finance for ordinary citizens, they plan to hold an on-site meeting at the Korea Federation of SMEs next month.
Kang Jun-hyun, the opposition floor leader of the Political Affairs Committee from the Democratic Party of Korea, stated in a phone interview with Asia Economy on the 27th, "We are coordinating a schedule to meet with the Korea Federation of SMEs in January next year." Once the schedule is confirmed in January, opposition members of the Political Affairs Committee, including the Democratic Party leadership as well as members from the Party for National Innovation and the Social Democratic Party, are expected to participate together.
This plan was reportedly discussed at the Democratic Party's policy coordination meeting on the 16th. The purpose is to listen to the voices of ordinary citizens and small and medium-sized enterprises (SMEs) and small business owners who are experiencing dual hardships caused by prolonged high interest rates and high inflation, as well as political uncertainty intensified by the martial law and impeachment situation, and to seek effective support measures. Earlier, on the 24th, members of the Political Affairs Committee visited the Central Integrated Support Center for Inclusive Finance in Jung-gu, Seoul, to hold an on-site meeting aimed at resolving issues related to inclusive finance, thereby accelerating support for livelihood finance.
A Political Affairs Committee official emphasized, "At the policy coordination meeting, the initial focus was on taking care of inclusive finance, and there was also an opinion that the difficulties of SMEs and small business owners should be examined." He added, "Going forward, individual members will continue to listen to voices from the field, focusing on livelihood finance, and seek practical ways to alleviate the financial burdens of ordinary citizens and small business owners."
Earlier, on the 9th, opposition members of the Political Affairs Committee from the three opposition parties, including the Democratic Party, visited the Korea Exchange in Yeouido with Lee Jae-myung, the party leader, to review measures for responding to capital market issues. This move is interpreted as an effort by the Democratic Party to highlight its role as a 'governing party' amid growing possibilities of an early presidential election following President Yoon Seok-yeol's resignation after the martial law incident.
At the Korea Federation of SMEs meeting, major agenda items are expected to include financial support measures for companies, issues related to raw material supply caused by the rapidly rising exchange rate due to recent domestic and international factors, and matters related to fair trade. A Political Affairs Committee official said, "We plan to continue discussions on institutional improvements through this relay on-site communication and are preparing related forums." He added, "We will also identify legislative tasks to expand support for inclusive finance and resolve financial difficulties faced by small business owners."
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