Revitalizing the Korean Economy: A Discussion With The National Assembly, Large Corporations, and SMEs

The National Assembly, large corporations, and small and medium-sized enterprises in one place

The Federation of Small and Medium Businesses held a discussion meeting to seek vitality for the Korean economy by bringing together officials from the Federation of Korean Industries, the Planning and Finance Committee of the National Assembly, and the Industry, Trade, and Energy Small and Medium Venture Business Committee of the National Assembly.

This day’s debate was the opening event of ‘Small and Medium Business Week’, a legal week, and the main topic was a presentation by Koh Young-seon, Vice President of Research at Korea Development Institute, on the theme of ‘Why is the vitality of the Korean economy declining?’

At this meeting, Kim Ki-moon, chairman of the Small and Medium Business Federation, mentioned the 52-hour work week and emphasized the necessity of flexibility.

[씽크] Kim Ki-moon / Chairman of the Korea Federation of Small and Medium Business: I would like to suggest one policy that is absolutely necessary for SMEs and the Korean economy to regain their vitality.

This is labor reform. Without labor reform, it is difficult for companies to invest, and Korea’s competitiveness cannot be raised.

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Kim Byung-joon, Acting President of the FKI, who made an announcement about the need to break down regulations that bind companies, said that creating an environment in which companies can focus on business activities should be a top priority.

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[씽크] Byung-jun Kim / Acting President of the Federation of Korean Industries: The competitiveness of SMEs is the competitiveness of large companies, and the competitiveness of partner companies is the same as that of large companies.

It is different from the old days, so without coexistence and so-called nominations, both large companies and small and medium-sized businesses are bound to die.

Participants agreed that policy reform at the government level is essential as a prerequisite for revitalizing the domestic economy.

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