Korea Federation of SMEs and National Integration Committee Cooperate to Foster SME Growth and Address Polarization

Korea Federation of SMEs and National Integration Committee Sign MOU

The Korea Federation of SMEs announced on October 1 that it had signed a business agreement with the National Integration Committee. The signing ceremony was attended by Kim Ki-moon, Chairman of the Korea Federation of SMEs, Kwon Hyuk-hong, Senior Vice Chairman, Bae Jo-woong, Senior Vice Chairman, as well as Lee Seok-yeon, Chairman of the National Integration Committee, Kim Hee-cheon, Head of the National Integration Support Group, and about 20 others.

Through this agreement, the two organizations have agreed to cooperate on the following: ▲joint research and surveys for mutual growth and win-win cooperation between large and small-medium enterprises ▲holding events, forums, and meetings to develop effective policies ▲making policy proposals to government ministries and related agencies and continuously monitoring their implementation ▲and conducting public relations and campaigns to improve awareness of small and medium-sized enterprises.

At the on-site meeting for small and medium-sized enterprises that followed the signing ceremony, the following suggestions were made: ▲establishing innovation measures for small manufacturing businesses ▲narrowing the technology gap between large and small-medium enterprises ▲resolving the dual structure of the labor market ▲establishing a "Committee for Growth for All" (tentative name) ▲and introducing a regulatory jury system.

Kim Ki-moon, Chairman of the Korea Federation of SMEs, stated, "Our society is structured around large corporations, with the top 0.1% of companies accounting for 66.3% of total added value, and polarization between large and small-medium enterprises is spreading throughout society." "Since the current administration has included the introduction of the cooperative association's right to request consultations and the enactment of the Online Platform Act as part of its national agenda in response to the demands for mutual growth from the small and medium-sized enterprise sector, I hope that both organizations will continue to work together to foster the growth of SMEs and address polarization, thereby achieving national integration."