Proposals Include Introduction of TDM Immunity System
The small and medium-sized business community met with Chung Cheongrae, Leader of the Democratic Party of Korea, and emphasized the need to mandate venture and startup investments for statutory funds.
On September 4th, Kim Kiwon, Chairman of the Korea Federation of Small and Medium Business (fifth from the left), and Chung Cheongrae, Leader of the Democratic Party of Korea (fourth from the left), held a 'Meeting between Leader Chung Cheongrae and Small Business Owners' at the Korea Federation of Small and Medium Business in Yeongdeungpo-gu, Seoul, and took a commemorative photo. Korea Federation of Small and Medium Business
On December 15, the Korea Federation of Small and Medium Business held the 'Town Hall Meeting on SME Legislative Agenda between the Korea Federation of Small and Medium Business and the Democratic Party of Korea' at its headquarters in Yeongdeungpo-gu, Seoul. This town hall meeting was organized to share the follow-up results of the 'Meeting between Party Leader Chung Cheongrae and Small Business Owners' held on September 4, and to discuss legislative tasks related to current issues facing small and medium-sized businesses.
From the Democratic Party of Korea, participants included Party Leader Chung Cheongrae, Policy Committee Chairperson Han Jeongae, Special Committee Chairperson on SMEs Kwon Chilsung, and Kim Woni, Secretary of the Trade, Industry, Energy, SMEs, and Startups Committee. Representing the SME sector, attendees included Chairman Kim Kiwon, Korea Venture Capital Association Chairman Kim Hakgyun, Korea Federation of SME Convergence Chairman Kang Hwansu, Korea Venture Business Association Chairman Song Byungjun, Korea Women Venture Association Chairperson Sung Misook, and approximately 80 others.
The SME community made proposals on the themes of promoting investment, regulatory innovation, and growth support, including: mandating venture and startup investments for 67 statutory funds; linking the National Growth Fund with the KOSDAQ Revitalization Fund; establishing a secondary fund dedicated to AC investments; introducing a TDM immunity system to improve AI data regulations; improving systems to support the development of customer-based financial AI services; and expanding tax credits for innovative R&D.
Chairman Kim stated, "As a result of the Democratic Party's efforts in the last regular session of the National Assembly, the amendment to the Win-Win Cooperation Act was passed, achieving meaningful outcomes such as expanding the scope of the supply price linkage system and introducing the Win-Win Finance Index." He added, "The Democratic Party should take the lead in legislative support to ensure that regulations on SMEs are substantially improved and that the regional economy can be revitalized under the current administration."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
