Medium-sized Enterprises: "Strengthening Corporate Fundamentals Is Key to Capitalizing on Korea-U.S. Tariff Negotiation Momentum"

Choi Jin-sik, Chairman of the Korea Federation of Medium-sized Enterprises, Speaks at the "Democratic Party of Korea-Korea Federation of Medium-sized Enterprises Policy Meeting" on the 31st

The medium-sized enterprise sector has emphasized the urgent need for policy support to restore livelihoods and strengthen corporate fundamentals in order to build a foundation for sustained economic growth, capitalizing on the momentum from the decisive conclusion of the Korea-U.S. tariff negotiations.

Choi Jin-sik, Chairman of the Korea Federation of Medium-sized Enterprises, stated this at the "Democratic Party of Korea-Korea Federation of Medium-sized Enterprises Policy Meeting" on the 31st. He said, "I hope the National Assembly, as the representative of the people, will take the lead in the journey toward genuine growth that revitalizes livelihoods and strengthens corporate fundamentals in a balanced manner."

Jin-Sik Choi, Chairman of the Korea Federation of Mid-sized Enterprises (right), is delivering the 'Top 10 Priority Tasks for Mid-sized Enterprises' to Chung Cheong-rae, Leader of the Democratic Party of Korea. Korea Federation of Mid-sized Enterprises

Chairman Choi went on to say, "The top priority for restoring livelihoods is to adjust the taxable base for earned income tax to reflect reality," adding, "Making the taxable base for earned income tax more realistic is not only the starting point for restoring livelihoods, but also a form of social recognition that will revive pride in labor and hope for the future."

He also stressed, "Given the importance of medium-sized enterprises as the core of the growth ladder across all industries, it is urgent to establish a financial support system that promotes active investment and innovation, including expanding policy finance, making interest rates more realistic, creating a dedicated credit guarantee fund account for medium-sized enterprises, and raising guarantee limits."

The meeting was attended by Chung Cheong-rae, Leader of the Democratic Party of Korea, Chairman Choi, Han Jeong-ae, Chair of the Policy Committee of the Democratic Party of Korea, Kim Won-i, Secretary of the Trade, Industry, Energy, SMEs and Startups Committee, Oh Ki-hyeong, Chair of the KOSPI 5000 Special Committee, Park Ji-hye, Member and Spokesperson of the Trade, Industry, Energy, SMEs and Startups Committee, Kim Young-hwan, Member of the Planning and Finance Committee and Chief of Staff to the Party Leader, Han Min-su, Member of the Science, ICT, Broadcasting and Communications Committee and Chief Secretary to the Party Leader, as well as medium-sized business leaders including Park Jin-seon, President of Sempio Foods, Cho Moon-su, Chairman of Korea Carbon, Hwang Cheol-joo, Chairman of Jusung Engineering, Kim Hae-ryeon, Chairman of Taekyung Group, Lee Ji-seon, CEO of Shinsung ENG, and Park Ji-young, CEO of Daedeok Hubiz.

On this day, the Korea Federation of Medium-sized Enterprises delivered the "Top 10 Priority Tasks for Medium-sized Enterprises" to the Democratic Party of Korea, which include "supplementary legislation for the Labor Union Act," "establishing a foundation for continued employment of older workers," "careful review of mandatory retirement of treasury shares," "expanding the foundation for policy financial support for medium-sized enterprises," and "expanding tax support for medium-sized enterprises."

Chung Cheong-rae, Leader of the Democratic Party of Korea, said, "Strengthening corporate fundamentals and restoring livelihoods are key goals of the Lee Jae-myung administration," adding, "There can be no partisan or ideological divide when it comes to national interests and the economy. We will closely examine issues on the ground for medium-sized enterprises, including the adjustment of the taxable base for earned income tax, as well as matters related to taxation, labor, and the industrial ecosystem, in order to create new pathways for improving the business environment."

Chairman Choi stated, "The conclusion of the tariff negotiations should be remembered not merely as a resolution of a crisis, but as an opportunity for a new leap forward in the national economy and industrial development. We must pool our collective wisdom to create a rational legal, institutional, and regulatory environment that revitalizes livelihoods and strengthens corporate competitiveness."