[GLOBAL ECONOMIC TIMES]  It was found that when a small business organization applies for a ‘subsistence type suitable business’, it takes up to 13 months to be finally designated.

According to the data on ‘Application date and designation period for suitable industries for livelihood’ submitted by the Ministry of SMEs and Startups by Representative Oh Se-hee of the Democratic Party of Korea, a member of the National Assembly’s Trade, Industry, Energy and Small and Medium Venture Business Committee, it took an average of 10 months from the date of application for suitable industries for livelihood to the date of designation.

It took 8 months for books, magazines, and LPG fuel retailing, 9 months for vending machine operation and sauce industry, and noodle manufacturing, cold noodle manufacturing, tteokguk rice cake, and tteokbokki manufacturing each took 13 months from the date of application to be designated as a suitable industry for livelihood. .

The processing period according to the current Small Business Enterprises Suitable Business Act and Enforcement Decree is up to 15 months.

When a small business organization applies for a suitable industry for livelihood, it goes through a fact-finding survey by a professional research institute, hearing the opinions of the parties, and deliberation on the feasibility of the business by the working committee. Afterwards, it receives the approval of the industry submitted by the Mutual Growth Committee and goes through the procedures designated by the Deliberation Committee of the Ministry of SMEs and Startups.

Rep. Oh Se-hee said, “If large corporations expand their business indiscriminately, there is a risk of damage to small and medium-sized business owners.” He added, “If the Shared Growth Committee presents an opinion that meets or partially conforms to an industry suitable for making a living, the large corporation may not commence business during the deliberation committee review period.” ·Expansion must be limited,” he said.

Currently, a total of 11 industries are designated as suitable for livelihood, including the book and magazine retail industry, which was designated as the first suitable industry in October 2019. The last designated industry was the tteokguk rice cake and tteokbokki rice cake manufacturing industry, which was designated in September 2021, and on the 14th, the retail industry of books and magazines and the retail industry of LPG fuel were re-designated as industries suitable for livelihood.

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