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Page 3 - சியோல் தேசிய பல்கலைக்கழகம் கிம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Legislative move to protect virus-hit SMEs politicized

By Lee Kyung-min A legislative move to set up the legal groundwork to protect small- and medium-sized enterprises hit by the COVID-19 pandemic is becoming politicized ahead of April mayoral by-elections, with the issue emerging as a major source of discord among top policymakers. Presidential hopefuls as well as many other politicians are arguing for the highly populist policy in an apparent vote-seeking attempt, whereas the issue has become more of a short-lived power struggle defined by the prime minister overpowering the finance and vice finance ministers. Experts say clearly targeted support for those companies that have experienced a drop in sales would be far better than across-the-board financial assistance, adding the expected budget shortfall can be filled by drastically removing spending plans allocated for repetitive, ineffective state-run projects.

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