Korea Chamber of Commerce and Industry (KCCI): "Tailored Support Needed for Mid-Sized Enterprises"... KFTC: "We Will Create an Environment That Promotes Growth"

[Financial News] The Korea Chamber of Commerce and Industry called for tailored policies for mid-sized enterprises positioned between large corporations and small and medium-sized enterprises.
In response, the Korea Fair Trade Commission said it would promote growth and innovation by creating a fair market environment focused on support rather than regulation.
At the 32nd KCCI Mid-Sized Enterprises Committee meeting held at KCCI Hall in Jung-gu, Seoul, on the 21st, Chairman Jeong Yu-seok called for action, saying, "Uniform policies that fail to take into account the unique position of mid-sized enterprises between large corporations and small and medium-sized enterprises have limitations in addressing difficulties in the field. Tailored policies that reflect the characteristics and roles of mid-sized enterprises are needed."
Jeong, who is also vice chairman of Shinheung Precision, said, "As the global trading order is being reshaped and cost pressures persist, it is becoming increasingly difficult for companies to look ahead. In particular, mid-sized enterprises occupy a dual position as the 'customers' of small and medium-sized enterprises and the 'partners' of large corporations. They therefore need both the responsibility to uphold fair trade and protection under the relevant systems."
Emphasizing that mid-sized enterprises occupy a dual position as the 'customers' of small and medium-sized enterprises and the 'partners' of large corporations, Jeong added, "They therefore need both the responsibility to uphold fair trade and protection under the relevant systems."
KCCI Standing Vice Chairman Kim Jeong-il also said, "Mid-sized enterprises account for only about 1.5% of all companies, but their economic contribution is substantial, with their shares of exports and employment reaching about 18% and 14%, respectively. We must remove the barriers created by various regulations and establish robust support measures to encourage the growth of mid-sized enterprises, which serve as the backbone of the economy."
Shin Dong-yeol, secretary-general of the Korea Fair Trade Commission, said in a lecture titled "The Direction of Fair Trade Policy," "We will create a market environment that promotes growth and innovation."
Shin stated, "The purpose of fair trade policy is not regulation for its own sake, but to support companies' autonomous and creative economic activities through fair market rules. We will improve payment stability in the subcontracting and distribution sectors while strengthening oversight of unfair practices such as technology theft and the passing on of costs."
In the subcontracting sector, the KFTC plans to expand payment guarantees, improve the effectiveness of direct payments by ordering parties, and promote electronic payment systems. It also plans to enhance fairness in transactions between platforms and merchants and reform competition policy and consumer protection systems in line with changes in digital-market environments such as AI and platforms.
 

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