I will be the driving force in helping small business owners overcome their crises with the mindset of 'strong roots and flourishing branches.'
Song Chi-young, president of the Korea Federation of Small Businesses, noted on the 31st in his '2025 New Year's Address' that 'All economic agents, including the government, corporations, and the public, must unite to overcome the crisis faced by small businesses, which are the backbone of our economy and a source of employment,' emphasizing that 'The Korea Federation of Small Businesses will be the driving force in overcoming the crisis faced by small business owners.'
'Strong roots and flourishing branches' is an idiom that means 'the branches can thrive only if the roots are strong.' Chairman Song stated, 'In 2025, we will rebuild the collapsed foundation of small businesses with the mindset of strong roots and flourishing branches.' He also presented 'Resolving the high-cost structure of small businesses' as a policy agenda for the federation in 2025.
The Korea Federation of Small Businesses has identified ▲application of differentiated minimum wage by industry ▲opposition to the expansion of the Labor Standards Act to include those with fewer than five employees ▲creation of laws for online platforms ▲establishment of a dedicated electricity rate system for small businesses ▲creation of specialized banks for small businesses as its 'five detailed tasks' for next year.
Chairman Song stated, 'We will make 2025 the inaugural year for economic recovery and the restoration of small business rights.' He continued, saying, 'In response to various government measures for economic stimulus, we will take the lead in ensuring that the effects of consumer promotion in the private sector can occur quickly,' adding, 'We will work towards the establishment of a charter of rights for small business owners, encompassing the government, consumers, and large corporations, to mitigate the damage experienced by small businesses.'