President Yoon Suk Yeol announced plans to lift 263 regulations, slash administrative charges and provide financial aid for small businesses with the goal of driving economic recovery.
Advocates for small- and medium-sized enterprises rally in a protest on Wednesday in front of the National Assembly in western Seoul.
The National Assembly must pay heed to the pleas of small companies and merchants.
Pressure mounts on the banking sector to lower loan interest rates for small businesses after President Yoon Suk Yeol's remark about them being "slaves" to banks.
President Yoon Suk-yeol is working on his man of the people image with activities that have him brush shoulders with the hoi polloi.
According to National Tax Service, the number of noraebang in Korea dropped to 27,779 as of last November, down 9.5 percent from 30,421 in 2019, or pre-pandemic.
Lee Jae-myung, the ruling Democratic Party’s (DP) presidential candidate, announced seven campaign pledges to compensate and support small businesses and self-employed merchants who suffered losses because of the Covid-19 pandemic Monday.
A 1 million won ($850) grant will be given to small business owners affected by the reintroduction of Covid-19 social distancing regulations.
The government started accepting applications from small businesses like restaurants and bars for pandemic subsidies of up to 20 million won ($17,000) -- and payments went out almost immediately.
Korea JoongAng Daily Sitemap
