Small and Medium Business Federation, 2021 Small and Medium Business New Year’s Meeting

“I would like to suggest the introduction of an American-style PPP, a wage protection program that provides unsecured loans to small business owners and SMEs on labor costs and rents, and cancels them if they maintain employment.”

Kim Ki-moon, chairman of the Small and Medium Business Administration, said at the ‘2021 New Year’s Meeting of Small and Medium Businesses’ held at the Yeouido Small and Medium Business Administration in Seoul on the 19th, asking for active support from the government for small and medium-sized business people suffering from Corona 19.

In his opening remark, Chairman Kim said, “60.3% of all SMEs are facing the worst economic environment since the IMF financial crisis, such as a decline in sales last year.” As much as it is giving the government a shield, it is necessary to protect SMEs and small business owners so that they can overcome the crisis.”

In particular, it conveyed concerns of SMEs about the severe disaster punishment law passed by the National Assembly on the 8th. Chairman Kim requested, “We will continue to make more efforts for industrial safety and disaster prevention, but we ask that the representatives of the opposition parties who attend this meeting fully reflect the opinions of the small and medium-sized business so that small and medium-sized businesses do not become potential criminals to supplement the legislation”

In addition, it suggested continuous support to resolve the liquidity crisis so that SMEs could strive to overcome the crisis, recognized the 52-hour weekly exception considering the specificity of the industry, and laid the foundation for a fair economic ecosystem between large and SMEs.

Regarding this, Minister of SMEs and Startups Park Young-sun said, “Since the Ministry of Employment and Labor is operating a similar system, there is a side to supplement the system through consultation with the SME and the Ministry of Employment.” Regarding the Severe Accident Punishment Act, “The Ministry of SMEs and Ventures is reviewing precautionary support so that workers can work with confidence in relation to workplaces with less than 5 employees excluded from the application of the law,” he said. “The Ministry of Economy presided over by Prime Minister Jeong Sye-gyun last Sunday. It was discussed at the ministerial meeting.”

The’Small and Medium Business People’s Association’, which celebrates its 28th anniversary this year, is a New Year’s celebration where major Korean leaders such as the government, the National Assembly, and the small and medium-sized businesses gather together to establish new year resolutions and boost morale of small and medium-sized businesses. Is hosted by

The event was attended by Prime Minister Jeong Sye-gyun, Minister of Employment and Labor Lee Jae-gap, Minister of Employment and Labor, Park Young-sun, Minister of Small and Medium Venture Business, and Lim Seo-jeong, Chief Job Officer of the Blue House. The President of the Management Association and others attended. In addition, small and medium-sized businesses and workers, including representatives from 12 small and medium-sized businesses in Vietnam and across the country, attended non-face-to-face online.

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