Eighty-one percent of small businesses and small merchants believe that the consumer recovery coupon implemented by the government since the 21st will have an effect on revitalizing domestic demand, according to a survey released on the 27th. The consumer recovery coupon is a policy that provides 150,000 to 550,000 won per person, depending on income level.
The Korea Federation of Small and Medium Enterprises (KBIZ) stated on the 27th that 81.1% of 396 participants in a survey titled 'Policies for Small Businesses and Small Merchants That We Hope For from the New Government,' conducted from the 17th to the 20th among subscribers of the Yellow Umbrella (small business and small merchant insurance), responded that the consumer recovery coupon would have an effect on revitalizing domestic demand. The percentage of those who answered that it would not have an effect was 18.9%.
Small businesses and small merchants identified revitalizing domestic demand and promoting consumption (39.4%) as the top priority task that the government of Lee Jae-myung should pursue. Financial support (32.4%) and strengthening the social safety net (12.0%) followed.
Opinions opposing debt adjustment for long-term and small-amount arrears (59.1%) outnumbered those in favor (40.9%). KBIZ analyzed that there seems to be concerns about fairness with diligent repayers and moral hazard.
Lee Min-kyung, head of the policy headquarters at KBIZ, said, 'Due to continued sluggish domestic demand, the number of business closures exceeded 1 million last year, indicating significant difficulties for small businesses and small merchants. I hope the consumer recovery coupon will serve as a catalyst for revitalizing domestic demand.'