The Small Enterprise and Market Service (SEMAS) will launch comprehensive support for small business owners struggling with the risk of closure, debt burdens, and damage from unfair trade.
SEMAS will push ahead in earnest with a "legal advisory support program" for small business owners who have closed or plan to close. Under the program for those who have closed or plan to close, a dedicated attorney from a specialized law firm is matched one-on-one to provide in-person or written advice on a range of legal issues that arise during closure and restart, including the Commercial Building Lease Protection Act, the Commercial Act, the Labor Standards Act, closure filings, debt issues, and more.
The program will cover a total of 1,250 cases and proceed through either "on-site legal services" or "visits to attorneys' offices," with a rapid support system built to complete consultations within two weeks of application.
SEMAS will also promote debt adjustment support for small business owners who have closed or plan to close, and their spouses, who are struggling with debt burdens. Debt adjustment will be operated for a total of 1,000 cases, divided into public debt adjustment, such as personal bankruptcy and rehabilitation support for those unable to repay, and private debt adjustment through linkage with the Credit Counseling & Recovery Service (CCRS).
In particular, to improve on-site accessibility and support a full restart, SEMAS will provide comprehensive counseling in connection with the "Small Business New Start Support Center," which launched in May last year and is currently operating at 78 locations nationwide.
It will also carry out counseling and relief support programs for small business owners harmed by unfair trade. An attorney specializing in unfair trade will guide them through legal response methods and procedures. After reviewing the details of the damage, SEMAS will work to minimize harm and directly resolve cases through relief measures that include support for hiring attorneys for dispute mediation and litigation and covering part of attorney fees.
In Tae-yeon, chair of SEMAS, said, "Closure and debt issues, and damage from unfair trade are problems that go beyond simple management difficulties and threaten the livelihoods of small business owners and their willingness to try again," adding, "We will build a swift and thorough legal support system to resolve small business owners' legal difficulties and provide practical help on the ground."