Acting President Han Ducksoo Meets with SME Leaders: "Regulatory Innovation Will Continue" (Comprehensive)

Acting President Han Ducksoo met with small and medium-sized business owners and stated, "We will relentlessly pursue regulatory innovation so that entrepreneurs can truly feel the impact."

On April 30, Acting President Han made these remarks at the 'Regulatory Innovation Meeting for SMEs' held at the Korea Federation of SMEs building in Yeouido, Seoul. He said, "The government has mobilized all available resources to alleviate the difficulties of small and medium-sized enterprises and small business owners and to ease their management burdens. However, unfortunately, the improvement in business conditions as felt on the ground has been very slow."

He continued, "The biggest challenge currently facing our economy is to secure sustainable growth engines and to maintain competitiveness in response to the rapidly changing global trade environment. In order to achieve results in regulatory innovation, the government and the private sector must work together, overcome conflicts, and communicate continuously until reasonable solutions are found."

Kim Ki-moon, Chairman of the Korea Federation of SMEs, who attended the meeting, said, "Due to political strife between the ruling and opposition parties and a chaotic political situation, the nation has become divided, and SMEs are suffering from issues such as the 52-hour workweek and the minimum wage system. Although last year's export figures reached an all-time high, recently, due to the trade war initiated by the United States, we are now worried even about exports."

At the meeting, more than 50 SME representatives attended, including Acting President Han; Oh Youngju, Minister of SMEs and Startups; Nam Hyungki, 2nd Deputy Minister of the Office for Government Policy Coordination; 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 Kwangcheon, Chairman of the Innobiz Association; and Kim Myungjin, Chairman of the Korea Association of Management Innovation SMEs.

They requested: ▲expanding the scope of reshoring recognition in response to supply chain restructuring; ▲improving the regulatory sandbox system; and ▲resolving regulatory conflicts through the introduction of a regulatory jury system.