Korea Federation of Micro Enterprise (KFME) said it "laid the institutional groundwork for coexistence" regarding the recently introduced "partial amendment bill to the Act on the Promotion of Win-Win Cooperation between Large Enterprises and SMEs" in the National Assembly.
KFME issued a commentary on the 6th, saying, "Countless micro-enterprises and small and midsize companies are seeing their livelihoods threatened in an unfair environment of excessive fees, unilateral settlement delays, and data monopolies," and noted, "We highly value that the amendment aims to improve market transparency and encourage voluntary efforts for coexistence."
Song Jae-bong of the Democratic Party of Korea and others introduced the amendment to the Win-Win Cooperation Act on the 3rd. The amendment includes establishing the Shared Growth Index evaluation for online platforms; investigations and disclosures by the Ministry of SMEs and Startups (MSS) on platform fees and payment settlement deadlines; and support to ease management burdens on platform-using businesses.
KFME projected that micro-enterprises' self-sustainability will improve through measures including MSS investigations and disclosures; efforts for prompt payment to resolve settlement delays and the sharing of related information; and establishing grounds for government support to strengthen the digital capabilities of tenant merchants and ease management burdens.
KFME added, "The amendment will be a starting point for shared growth where everyone in the platform ecosystem can 'win-win,'" and said, "We hope it is advanced constructively in the National Assembly to open a new framework for easing the burdens on micro-enterprises and for coexistence."