Deputy Minister Yoon In-dae of the Ministry of Economy and Finance said on the 11th, "We will establish a hotline with the joint task force of economic organizations and discuss concrete improvement plans together to enhance corporate growth and dynamism."
On the same day, Deputy Minister Yoon held a relay field meeting with the growth-oriented corporate ecosystem establishment task force, which involved the Korea Chamber of Commerce and Industry, The Federation of Korean Industries, and the Korea Federation of Small and Medium Enterprises, and stated this.
The joint task force of economic organizations pointed out at the meeting that "the 'Peter Pan syndrome' is emerging, where regulations based on corporate size hinder actual growth of corporations." They noted that financial and tax support significantly decreases as small corporations grow into medium-sized ones, and that limitations on public procurement participation are causing difficulties for corporations. They also suggested that the 'customized guarantee support project for medium corporations' by the Korea Credit Guarantee Fund (KODIT) should continue.
The joint task force of economic organizations also pointed out that "regulations under the Fair Trade Act, based on the designation of large corporate groups, and other regulations derived from it are burdensome for actual corporate investment activities." They said they will conduct an overall investigation into regulations based on corporate size and continue to suggest improvement tasks to the government. In particular, they proposed that the government needs to improve regulations in a way that promotes corporate investment, focusing on regulations that the public can empathize with, such as the 24-hour delivery restriction for large supermarkets and the regulations on local delivery of fresh food.
They also requested support for retired baby boomers to work in local small corporations, to revitalize local investment and secure manpower for local businesses. They suggested that measures to expand settlement support, including low-interest housing supply for retired baby boomers moving to local townhouses, should also be explored.
Deputy Minister Yoon stated, "To promote the recovery and growth of corporate vitality, we will boldly improve support and regulations based on corporate size and rationalize economic penalties."