Finance Minister vows aid to small and medium firms

The government is committed to helping small and medium enterprises and reviving traditional markets that form the backbone of the local economy, the finance minister said yesterday.

Bahk Jae-wan told a weekly economic policy makers meeting that Seoul aims to implement programs that will directly benefit SMEs and small-time merchants that employ the bulk of the country’s workforce.

“Efforts are also underway to revive traditional markets that have been losing ground to large discount outlets and big super market chains owned by conglomerates,” he said. “State policies must be tailored to allow small and medium businesses to reap benefits.”

The government is receiving feedback from regional offices of the Small and Medium Business Administration and the Small Business Corp. to make further changes in the future, he said.