Chairman In Tae-yeon, a former presidential secretary in charge of self-employed businesses, took office as the fifth chairman of the Small Enterprise & Market Service (SEMAS) at its headquarters in Daejeon on Jan. 29.
In a speech at his inauguration ceremony, In said, “Currently, some 7.9 million small business owners have been related to the livelihood of employees and household members, and small business owner policies are a matter of life for a substantial part of our society beyond simple support.”
“Supporting small business owners and traditional markets is a matter of sustaining our economy and regional communities, and SEMAS now has to be evaluated for its performances on top of its role as an execution institution connecting policies and fields,” Chmn. In said.
As for the direction of the operating of SEMAS, Chmn. In elaborated on a growth-oriented policy shift beyond recovery, creating changes to field expectations and strengthening support tailored according to information data.
Chmn. In said, “We have to design a growth route in which small business owners are armed with competitiveness on their own in order to move forward to the next stage, beyond short-term support.”
He called for traditional markets and commercial districts to make a sustainable structure in conjunction with their distinct characteristics.
He said data, AI and digital technology are means of raising the precision of policies, not purpose, and SEMAS will pursue institutional reform so that support and consulting can be tailored to meet small business owners’ conditions.
Lastly, Chmn. In said, SEMAS will be a strong supporter of self-employed businesses while meeting with small business owners on to lend an ear to their voices.
SEMAS Offers 250,000 Won Support Voucher for Small Businesses’ Fixed Costs
SEMAS began accepting applications on Feb. 9 for the Small Business Owner Management Stability Voucher, which offers up to 250,000 Korean won in support to help small business owners with annual sales of less than 104 million won ease fixed-costs.
The voucher can be used for utility bills such as electricity, gas, and water fees, four major insurance premiums (national pension, health insurance, industrial accident compensation insurance, and employment insurance), vehicle fuel costs, and payments for fire insurance premiums in traditional markets.
SEMAS expects this voucher to assist small business owners struggling with reduced sales in stabilizing their operations.
SEMAS has also improved application convenience this year.
Business owners who participated in last year’s Small Business Owner Burden Reduction Credit can use a function that automatically retrieves their existing information during the application process.
To prevent congestion during the initial application period, a two-part system based on the last digit of the business registration number will be implemented for the first two days.
On Feb. 9, the first day, applicants with an odd last digit can apply, and on Feb.10, the second day, those with an even last digit can apply.
From Feb. 11 onward, applications will be accepted without restrictions.
Applications can be submitted via the exclusive website (www.semas.or.kr) or through the exclusive call center (1533-0600). A source from SEMAS urged caution against phishing sites and messages impersonating the support program, stating, “We strongly advise applying exclusively through the official website.”
Meanwhile, SEMAS Chairman In said, “We hope the Small Business Owner Management Stability Voucher will provide some relief to small business owners facing difficulties due to declining sales. We will ensure swift implementation to support their operational stability.”
SEMAS Launches ‘Hope Return Package Restart Business Project’
The Small Enterprise & Market Service will accept participants of Hope Return Package Restart Business Project until 5 p.m. on Feb. 27.
The program helps small business owners prepare to reopen after a closure.
They’re given a helping hand on the whole process of reactivating, such as experts’ diagnosis, education, mentoring tailored according to their needs and business funds.
SEMAS said it has ramped up support based on cause diagnosis and execution, beyond simple provision of funds.
Experts from each field will visit business sites and give an evaluation of their management structure and education tailored to meet their needs.
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