Strengthening Support for Women-Owned Businesses... Ruling Party’s O Sehee Proposes Amendment to the “Women-Owned Business Act”
Expanding the Role of the Korea Women Entrepreneurs Association
Establishing Grounds for Operating Cost Support
Enhancing the Effectiveness of the Support System
A bill has been introduced to expand the role of the Korea Women Entrepreneurs Association and to revise the system for certifying women-owned businesses.
On September 21, Sehee Oh, a member of the Democratic Party of Korea and a member of the National Assembly's Trade, Industry, Energy, SMEs, and Startups Committee, sponsored the proposed partial amendment to the Act on Support for Female-Owned Businesses.
The revised bill aims to enhance the effectiveness of the support structure for women-owned businesses. Key provisions include: adding policy recommendation duties and a legal basis for operational expense support to the scope of work of the Korea Women Entrepreneurs Association; extending the application restriction period for women-owned business certification; and omitting the hearing procedure for certification cancellation in cases of bankruptcy or business closure.
On September 14, Assemblywoman Oh held a legislative meeting on amending the relevant law to listen to the opinions of women entrepreneurs in the field. Participants suggested that it was necessary to enhance the reliability of the certification system for women-owned businesses and strengthen the role and operational support of the Korea Women Entrepreneurs Association.
Assemblywoman Oh stated, "We will remove unreasonable regulations and provide legislative and policy support so that women-owned businesses can achieve real growth amid a changing economic environment."
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The bill was jointly sponsored by Assemblywoman Oh and fellow Democratic Party lawmakers Hyangyeop Kwon, Jongmin Kim, Junghyun Park, Younggyo Seo, Okjoo Song, Sujin Lee, Eunsu Jeon, Jinsook Jeon, and Sungmoo Heo.
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