The Ministry of SMEs and Startups said on the 10th that it held a launch ceremony for the "2nd support headquarters for expanding the linkage of supply prices" at the Foundation of Large and Small Business, Agriculture and Fisheries Cooperation in Chungmuro, Seoul. The launch reflects the Ministry of SMEs and Startups (MSS)'s resolve to establish the supply price linkage system as a safety net for small and medium-sized enterprises amid heightened uncertainty in materials and supplies prices due to the prolonged Middle East war.
The 2nd support headquarters was expanded to a total of six institutions by adding price survey and research agencies to the 1st linkage support headquarters, which had centered on existing SME-focused associations and groups such as the Foundation of Large and Small Business, Agriculture and Fisheries Cooperation, the Korea Federation of Small and Medium Enterprises, and the INNOBIZ Association.
The newly participating National Center for Root Industry Promotion supports the overall root industry, which is energy-intensive, and plans to expand its support scope to plastic injection corporations struggling with the recent surge in materials and supplies prices. To prepare for the introduction of an energy expense linkage system, it will promote education and outreach for corporations and work to identify pilot applicants.
The Korea Price Association, drawing on more than 50 years of price survey experience, will provide price indicators for 1,000 key materials and supplies items and produce an energy expense guidebook that corporations can use.
Lee Byeong-gweon, the second vice minister of the Ministry of SMEs and Startups (MSS), said, "Predictability in materials and supplies prices has dropped significantly due to the Middle East–originated supply chain crisis," and emphasized, "The supply price linkage system is the most effective means of protecting the survival of small and medium-sized enterprises." He added, "We must reflect voices from the field in policy to prevent surges in materials and supplies prices from leading to deteriorating management for small and medium-sized enterprises."