Lee Jae-myung: "Supplementary Budget Must Include Support for Small Businesses and Neighborhood Commercial Districts"

April 2 Democratic Party?Small Business Federation Livelihood Economy Field Meeting
Discussions on Revitalizing Neighborhood Commercial Districts, Including Local Currency Policies
After the Meeting, Lee Says, "It Is Yoon Suk-yeol Who Must Accept the Decision"

Lee Jae-myung, leader of the Democratic Party of Korea, met with the Small Business Federation to discuss measures to revitalize neighborhood commercial districts, including the use of local currency. Lee also emphasized that the supplementary budget must include funding to support small business owners.

Democratic Party leader Lee Jaemyung is speaking at the Democratic Party-Small Business Association Livelihood Economy Field Meeting held in the conference room of the Small Business Association in Yeongdeungpo-gu, Seoul on April 2, 2025. Photo by National Assembly Press Photographers Group

At the Democratic Party-Small Business Federation Livelihood Economy Field Meeting held at the Small Business Federation conference room in Yeongdeungpo-gu, Seoul on April 2, Lee told reporters, "The supplementary budget must include funding to support small business owners or to revitalize local neighborhood commercial districts, as part of the budget for people's livelihoods."

Lee stated, "Due to the recent military coup incident, neighborhood commercial districts and the regional economy, including small business owners, have deteriorated significantly. We need to make up for the shortfall through fiscal spending, but it is regrettable that the government seems to be giving little consideration to this issue."

Attending the field meeting that day were Lee, Chief Spokesperson Cho Seungrae, Policy Committee Chair Jin Sungjoon, and other party officials, as well as Song Chi-young, president of the Small Business Federation, and leaders of small business organizations.

During the field meeting, which switched to a closed session after the opening remarks, the Small Business Federation stressed the need for: ▲ the establishment of a dedicated electricity rate system for small businesses ▲ enactment of the Online Platform Act ▲ revision of the Commercial Building Lease Protection Act ▲ improvement of the minimum wage system ▲ a grace period for the application of barrier-free kiosks ▲ enactment of a welfare law and establishment of regional welfare centers ▲ expansion of fire insurance coverage ▲ and enactment of a special law to support small business workforce needs.

On April 2, at the Small Business Federation conference room in Yeongdeungpo-gu, Seoul, Lee Jae-myung, leader of the Democratic Party of Korea, is taking a commemorative photo with Song Chi-young, president of the Small Business Federation, and other attendees during the Democratic Party of Korea-Small Business Federation field meeting on the livelihood economy. 2025.4.2 Photo by National Assembly Press Photographers Group

In response, the Democratic Party agreed on the need to actively develop and implement policies together with small business owners. In particular, discussions on local currency policies were highlighted. After the meeting, Democratic Party Chief Spokesperson Cho Seungrae said, "There was consensus that local currency is necessary to create a consumption multiplier effect and to promote a virtuous cycle in the regional economy."

However, regarding issues related to the minimum wage system, such as the abolition of holiday allowance raised by the Small Business Federation, Chief Spokesperson Cho stated, "Rather than actively raising contentious issues between labor and small business owners, I conveyed that it would be more reasonable to focus our efforts on finding topics where cooperation is possible."

Meanwhile, with the Constitutional Court scheduled to deliver its verdict on the impeachment trial of President Yoon Suk-yeol on April 4, Lee was asked by reporters whether his message about accepting the Constitutional Court's decision, which he made on a broadcast three weeks ago, was still valid. He replied, "It is Yoon Suk-yeol who must accept the decision."