The Korea Federation of Micro Enterprise (KFME) has urged the public to actively make use of commercial alleys and neighborhood shops facing difficulties due to the prolonged economic slump during the Chuseok holiday.

In a statement, KFME Chairman Song Chi-young said, "Due to prolonged sluggish domestic demand and shrinking consumer sentiment, the minds of small business owners welcoming Chuseok are heavier than ever," adding, "With labor costs, raw material prices, rent, utility bills, and financial costs—everything is on the rise, so even if sales increase, the high-cost structure where little is actually left in their hands is wearing small business owners down."

Chairman Song defined this crisis facing small business owners as a "structural problem," emphasizing that urgent measures are needed, including ▲ creating a business environment that allows them to hold on before closing down, ▲ supporting safe business closures, and ▲ building a robust social safety net that provides opportunities for a second chance.

He asked the public, "We ask citizens to share a warm heart for family and neighbors with small business owners in our neighborhood this Chuseok," adding, "If you buy holiday gifts from nearby traditional markets and alley shops, and hold family gatherings at neighborhood restaurants and small shops, it will be a great source of strength for small business owners to open their store doors once again."

He added, "We will actively convey the desperate voices from the field to the government and the National Assembly so that they can lead to substantive policy changes," and noted, "Since the recovery of small business owners is directly the recovery of the local economy and South Korea's livelihood economy, we hope that the lights of hope will brightly illuminate every alley once again this Chuseok."

(Photo: Yonhap News)