"Black Hole Exploiting Regulatory Loopholes"
The Korea Federation of Micro Enterprises strongly opposed the ruling party and government’s consideration of including food ingredient marts as eligible locations for the “Livelihood Recovery Consumption Coupon.”
On July 8, the federation issued a statement saying, “Including food ingredient marts as eligible locations for the Livelihood Recovery Consumption Coupon is an act that dashes the expectations of small business owners and self-employed individuals. It also runs counter to the government’s policy goal of revitalizing the local economy and small business sectors to spark a recovery in people’s livelihoods,” adding, “Such a move would inevitably undermine the effectiveness of the policy.”
The statement continued, “Food ingredient marts, exploiting regulatory loopholes in the Distribution Industry Development Act, have been expanding without limits and act as a massive black hole that drains capital from local communities. In addition to aggressive business practices such as operating year-round and late at night, these marts are constantly embroiled in controversies over unfair practices toward suppliers, splitting store areas to evade regulations, and other illegal or dubious operations. Expanding the coupon’s eligible locations to include these marts would, in effect, condone their role as a black hole for the coupons.”
The federation further emphasized, “Food ingredient marts should not be eligible for the Livelihood Recovery Consumption Coupon. Instead, they should immediately become subject to regulation under the Distribution Industry Development Act.”
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