SME Leaders Request Regulatory Relief in Meeting with Acting President Han

Korea Federation of SMEs Holds 'SME Regulatory Innovation Meeting'
with Acting President Han Ducksoo

The Korea Federation of SMEs announced on April 30 that it held a meeting at the Yeouido headquarters with Han Ducksoo, Acting President and Prime Minister, to discuss the elimination of regulations that hinder the development of small and medium-sized enterprises.

In addition to Acting President Han, the meeting was attended by Oh Youngju, Minister of SMEs and Startups, Nam Hyungki, Second Deputy Chief of the Office for Government Policy Coordination, and others. From the SME sector, more than 50 representatives participated, including Kim Ki-moon, Chairman of the Korea Federation of SMEs; Cho Inho, Chairman of the Korea Mechanical Equipment Construction Association; Park Changsook, Chairwoman of the Korea Women Entrepreneurs Association; Song Chiyoung, Chairman of the Korea Federation of Micro Enterprises; Kim Hakgyun, Chairman of the Korea Venture Capital Association; Sung Misook, Chairwoman of the Korea Women Venture Association; Kim Deokjae, Chairwoman of the IT Women Entrepreneurs Association; Jung Gwangcheon, Chairman of the Innobiz Association; and Kim Myungjin, Chairman of the Korea Association of Innovative SMEs.

The SME representatives in attendance requested several key measures, including expanding the scope of reshoring recognition to respond to supply chain reorganization, improving the regulatory sandbox system, and resolving regulatory conflicts through the introduction of a regulatory jury system. In response, Acting President Han listened to the difficulties faced by SMEs and expressed his commitment to continuous regulatory innovation and field-oriented support to enhance industrial competitiveness.

Kim Ki-moon, Chairman of the Korea Federation of SMEs, stated, "I hope you will make every effort to eliminate various regulations so that we can overcome the current dilemma caused by the complex political situation, issues related to the three major labor laws such as the 52-hour workweek, minimum wage, and Serious Accidents Punishment Act, the slump in domestic demand due to a declining consumer population, and sluggish exports resulting from trade wars."