No Yong-seok, the first vice minister of the Ministry of SMEs and Startups, said on the 21st that the ministry will "closely examine even the smallest voices on the ground to improve policy effectiveness and seek additional support measures so that corporations can focus on restoring normal operations without wavering."
On the day, the Vice Minister visited the production plant of Saerom, a food packaging materials corporation in Iksan, North Jeolla. Saerom faces growing uncertainty due to the Middle East war, including instability in raw material supply, exchange rate fluctuations, and rising prices. Chief Executive Officer Myeong Mi-sun of Saerom said, "As the Middle East war drags on, we are having difficulty securing raw materials, and the cost burden is not small."
The Vice Minister signaled an intention to listen to the voices on the ground at small and medium-sized corporations and to seek support measures. The Vice Minister noted, "The government has drawn up a supplementary budget of 1.69 trillion won, including 250 billion won in emergency business stabilization funds and 100 billion won in export vouchers, to ease the burden on corporations affected by the Middle East war and to supply liquidity."
The Vice Minister added, "As we have arranged a 550 billion won supplementary budget to expand policy funds, we will do our best to execute swiftly so that funds can be provided in a timely manner to corporations in need."