November 20, 2018 13:07
The government is turning the state-run home-shopping channel into an exclusive outlet for products made by small firms at home. The channel was launched in 2015 to promote small and mid-sized companies and help farmers and fishermen.
SMEs Minister Hong Jong-haak told reporters at the Korea Federation of SMEs in Yeouido, Seoul on Monday, "There will be no problem in letting the channel sell 100 percent local products."
The new policy will go into effect in January.
In August, the channel announced plans to stop selling products made overseas even if the companies that make them are Korean-owned. But last month lawmakers raised objections, warning the decision could violate international trade law.
"The channel is a shopping outlet for local SMEs," Hong said. "It's wrong for it to sell foreign products."
Hong, who was marking his first year in the job, said the government is supporting small businesses in other ways too. "We've worked hard to reduce the troubles of small businesses, including lowering credit-card processing fees and revising lease contracts to protect them from a sudden hike in rents," he added. "We'll continue to support small businesses by making the most of next year's budget of W10.2 trillion (US$1=W1,127)."
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