The small and midsize business community said it welcomes the "second plan to rationalize economic criminal penalties" released by the government and the Democratic Party of Korea.
The Korea Federation of Small and Medium Enterprises said in a commentary on the 30th that "it is very encouraging that the second plan was released just three months after the first plan was released, as it shows the government is making sustained efforts to rationalize economic criminal penalties." It added, "The second plan includes measures to significantly ease criminal penalties for violations of obligations caused by minor mistakes, and is expected to greatly contribute to restoring people's livelihoods."
The Korea Federation of Small and Medium Enterprises also emphasized, "Until now, excessive criminal liability risks for business owners have made management activities difficult, but with this plan, easing penalties for acts without intent or for simple administrative obligation violations is expected to further boost economic vitality."
The Korea Federation of Small and Medium Enterprises said, "As the government has signaled that it will identify a third set of tasks, we hope active reviews will be conducted on the regulatory improvement tasks for economic criminal penalties proposed by the small and midsize business community," adding, "We expect swift legislation and system improvements so that the improvement measures already released can be felt in the field." It continued, "The small and midsize business community will also contribute to national economic development through responsible management activities in step with the government's efforts."
That day, the government and the ruling party released a plan to rationalize economic criminal penalties that centers on sharply strengthening the penalty surcharge for corporations' serious illegal acts and converting criminal penalties into fines for minor violations.