"Establishment of Vice Minister for Small Businesses"... Federation Delivers Presidential Policy Tasks to Democratic Party

Delivery of Over 110 Policy Tasks Including 25 Core Agendas

The Korea Federation of Small and Medium Business announced on the 15th that it has delivered the "Next Government's Small Business Policy Tasks" to the Democratic Party of Korea in preparation for the 21st presidential election.

On the morning of the same day, the Federation held a "21st Presidential Election Small Business Policy Task Delivery Ceremony" with the Democratic Party at its conference room in Yeouido, Seoul. During the event, the Federation delivered policy tasks that included emergency support funds for small businesses and the establishment of a new vice-ministerial position dedicated to small businesses within the Ministry of SMEs and Startups. The ceremony was attended by Yoon Hojoong, Chief Election Campaign Director of the Democratic Party, as well as Nam Insun and Park Honggeun, heads of the Functional Headquarters.

The Korea Federation of Small and Medium Business announced on the 15th that it has delivered the "Next Government's Small Business Policy Tasks" to the Democratic Party of Korea in preparation for the 21st presidential election. The Korea Federation of Small and Medium Business

Previously, the Federation had selected and announced a total of approximately 110 policy tasks, including five major agendas?overcoming crises, strengthening support and infrastructure, improving laws and systems, establishing a social safety net, and building a foundation for innovative growth?and 25 core tasks. By delivering these policy tasks to the Democratic Party, the Federation emphasized that small business issues should become a key national agenda for the next government.

The main contents include: providing emergency support funds for small businesses; establishing a new vice-ministerial position dedicated to small businesses within the Ministry of SMEs and Startups; creating a Presidential Committee on Small Businesses and a Secretary for Small Businesses under the direct control of the President to strengthen dedicated organizations; establishing a policy financial institution for small businesses; expanding the simplified taxation bracket to ease the tax burden; enacting a welfare law for small businesses to build a social safety net; and constructing a Small Business Hall.

The Democratic Party stated that after receiving the tasks, it would strive to reflect the opinions of small businesses in its policies.

Song Chiyoung, President of the Federation, emphasized, "This presidential election must be a small business and livelihood-focused election that prioritizes the survival of small businesses," and added, "I hope that the policy tasks delivered today will be discussed in the political arena and become national agendas for the next government."

The Federation plans to deliver its policy tasks and continue discussions with other parties, including the People Power Party and the Reform Party. It also intends to campaign to encourage small business owners to vote and to push for the inclusion of its policy tasks in presidential election pledges.