Pres. Moon Calls for Financial Reform to Support SMEs

Write : 2018-03-13 14:34:24 Update : 2018-03-13 14:40:36

Pres. Moon Calls for Financial Reform to Support SMEs

President Moon Jae-in has called on government officials to swiftly initiate financial reform measures in order to reduce financial burdens for small-and medium-sized enterprises(SMEs) as well as owners of small companies and startups. 

Chairing a Cabinet meeting on Tuesday, Moon said that the Korean economy is showing signs of recovery due to the continuous improvement in real economy indicators such as exports, industrial output and investment spending. 

Nevertheless, Moon said that SMEs and small business owners continue to face difficulties.

He called for the swift scrapping of the regulation on joint liability for policy financing in a bid to provide a catalyst to boost entrepreneurship. The president also ordered agencies to come up with measures to abolish the promissory note system that had been a burden on small businesses. 






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