The small and midsize business community welcomed the government's supplementary budget for this year and expressed expectations for support to export small and midsize companies and small merchants amid heightened external uncertainty due to instability in the Middle East.
The Korea Federation of Small and Medium Enterprises said in a statement on the 31st that "support to minimize damage to export small and midsize companies and to stabilize the management of small merchants reflects the difficulties of small and midsize companies and small merchants in a crisis."
It added, "It is significant that this supplementary budget includes measures that reduce export corporations' expense, such as expanding export vouchers, emergency support vouchers, and support for overseas joint logistics centers, which will provide practical help in easing the burden on export small and midsize companies that have struggled with rising logistics costs and transport disruptions."
It continued, "Along with liquidity support such as emergency management stabilization funds and expanded technology and credit guarantees, support for the rebound of small and midsize companies and small merchants is also meaningful in that it builds a foundation for crisis response and a new attempt," adding, "To enhance policy effectiveness, we hope the system will be designed so that government support can be delivered sufficiently not only to direct export corporations but also to indirect export corporations and secondary and tertiary partner small and midsize companies."
Lastly, it said, "The small and midsize business community will also do its best to join national energy saving and emergency economic responses amid the uncertainty of the Middle East situation, so that we can overcome the crisis wisely and make a fresh leap forward."