Federation of Small and Medium Business Meets Chairman Kim Jihyung: "Small Business Committee Needed Within Economic, Social and Labor Council"

"Weekly Holiday Allowance and 4.5-Day Workweek Cannot Be Implemented Simultaneously"

The Federation of Small and Medium Business requested the establishment of a Small Business Committee within the Economic, Social and Labor Council during a meeting with Kim Jihyung, the newly appointed Chairman of the Council.

Song Chi-young, President of the Federation of Small and Medium Business (left), and Kim Ji-hyung, the new Chairman of the Economic, Social and Labor Council, are taking a commemorative photo at the Federation's meeting room in Yeongdeungpo-gu, Seoul. Federation of Small and Medium Business

On the 18th, the Federation announced that it had held a meeting at its conference room in Yeongdeungpo-gu, Seoul, which also served as an introductory session with Chairman Kim. The event was attended by Chairman Kim, other officials, President Song Chiyoung of the Federation, and other members of the executive board.

In his welcoming remarks, President Song expressed his gratitude for Chairman Kim's visit and conveyed the practical difficulties faced by small business owners. He particularly stressed, "If a 4.5-day workweek is introduced as demanded by labor unions while maintaining the weekly holiday allowance, it will inflict irreversible structural damage on small business owners." He further emphasized, "The government's push to expand the application of the Labor Standards Act to businesses with fewer than five employees will inevitably increase the labor cost burden on small-scale self-employed individuals, pushing them to the brink of bankruptcy." He added, "The role of the Economic, Social and Labor Council as a 'facilitator of trust' is a value that our society desperately needs."

He also conveyed the view that a Small Business Committee should be established within the Council to ensure that small business owners can participate as a main party in social dialogue. President Song called for the swift launch of the Small Business Committee and stated his intention to continue raising various issues such as employment structure improvement and labor environment with the Council. The Federation plans to continue discussions with the Council on small business issues and to promote ongoing social dialogue as a result of this meeting.

Chairman Kim stated, "The crisis facing small business owners is so severe that it is symbolized by the phrase 'the era of one million closures.' The challenges facing small business owners have now become a task that the entire society must address together." He continued, "The Economic, Social and Labor Council will do its utmost to support and stand with those in difficulty. I hope the Federation will faithfully gather the voices of each industry and region, connect them to the platform of social dialogue, and actively participate in seeking solutions for coexistence and a sustainable community."