Kim Gi-moon, president of the Korea Federation of Small and Medium Enterprises, noted on the 13th during a meeting with President Lee Jae-myung and heads of major corporations, "Many small and medium-sized corporations that entered the Kaesong Industrial Complex hope for successful inter-Korean economic cooperation," and added, "As one of the entrepreneurs who first entered, I wish for its success."
According to the Korea Federation of Small and Medium Enterprises, President Kim Gi-moon discussed economic issues with President Lee and the heads of six economic organizations and five major groups for about 2 hours and 20 minutes from 10 a.m. at the presidential office in Yongsan, Seoul.
At the meeting, Kim said, "After the new government was launched, the exchange rate stabilized, and stock prices began to rise, giving corporations hope that 'it seems they will do well now.'" He mentioned, "In the presidential inauguration speech, the President stated, 'The surest security is a peace that does not require fighting,' and it is a good thing that the North has responded positively to the complete halt of loudspeaker broadcasts toward North Korea."
He continued, "More than 1 million small business owners and self-employed individuals went bankrupt last year, and over 200,000 will face bankruptcy by February this year, indicating significant difficulties," and said, "While the economy is struggling, it is fundamentally a serious structural issue with declining consumer populations due to low birth rates and an aging population."
He emphasized, "Government support is necessary for overseas exhibitions to boost exports of local small and medium enterprises," and added, "The Korea Trade-Investment Promotion Agency also needs to expand its functions to support small and medium enterprises' exports."
Moreover, he added, "It is difficult for many small and medium enterprises and self-employed individuals, and I ask that the President come out to the field to encourage them and hold meetings."
President Lee met with economic leaders for the first time since taking office. The meeting included President Kim, as well as Son Kyung-sik, president of the Korea Enterprises Federation; Choi Tae-won, president of KORCHAM; Ryu Jin, president of The Federation of Korean Industries; Yoon Jin-sik, president of the Korea International Trade Association; Choi Jin-sik, president of the Korea Association of Medium Enterprises; Lee Jae-yong, chairman of Samsung Electronics; Chung Eui-sun, chairman of Hyundai Motor Group; Koo Kwang-mo, chairman of LG Group; and Shin Dong-bin, chairman of the Lotte Group.
President Lee mentioned, "We are experiencing a significant transformation in the global trade order due to the spread of nationalism and protectionism, and the segmentation of global supply chains, and the ongoing global tariff war has a substantial impact on our industrial competitiveness and export base."