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Kim Moon-soo, presidential candidate of the ruling People Power Party (PPP), poses for a photo with small business owners during a breakfast lecture hosted by the Proud Small Business Association at the Korea Federation of SMEs in Yeouido, Seoul, on May 15. / Photo by Han Dae-ui

Kim Moon-soo, presidential candidate of the ruling People Power Party (PPP), pledged on May 15 to become a "small business president" who listens to and supports entrepreneurs, vowing to reform regulations that burden them and to recognize their central role in the nation’s economy.

Speaking at a breakfast lecture hosted by the Proud Small Business Association at the Korea Federation of SMEs in Yeouido, Seoul, Kim said, “As someone who has been a union member, I believe that even labor unions require businesses to exist.” He continued, “Until the day you succeed in the global market, I will always listen to you and serve you.”

Kim pointed to the challenges he witnessed while touring regional areas. “Many localities are struggling due to population decline,” he said. “Businesses can’t find workers. Some even have to shuttle workers to factories and back home just to keep operations running. But if we have people, we have hope.”

He also thanked the Small Business Association for its efforts in tackling demographic and employment issues. “You are working hard to overcome the low birth rate crisis and job challenges. I am grateful for your leadership,” he said.

Recalling his time as Minister of Employment and Labor, Kim noted, “I’ve visited this very place, spoken with you, and heard your concerns. The most important thing I’ve learned is that small businesses are extremely diverse. Each one has its own story, its own challenges. Solutions take time and aren’t simple.”

Kim also criticized the application of the Serious Accidents Punishment Act to small businesses. “Is it really fair to apply such regulations to small-scale firms?” he asked. “You did not give up. You went to the National Assembly and all over the country to voice your concerns. I will remember that, and if I become a decision-maker, I will amend such laws so they no longer hurt you.”

He also took aim at the so-called “Yellow Envelope Law,” which restricts damage claims against striking workers. “It violates the Constitution and civil law,” he argued. “Do only labor unions have votes? Don’t small business owners count? This mindset that only union votes matter will destroy the economy.”

Kim emphasized his own labor background, saying, “I was a union member. My wife was a union member. My brother too. We’ve all been there. But the conclusion we reached is this: Without businesses, there are no unions. No companies means no jobs, no welfare, and no country.”

“You are the embodiment of freedom, the private sector, and the creators of jobs and national wealth,” he said. “It’s not enough to call you just 'businesspeople.' You are the state itself. You are the central actors of a free democratic Korea.”

In closing, Kim reiterated his commitment: “Companies are the backbone of the economy, the nation, workers, and families. I will do everything I can to grow your businesses. Until the day you succeed globally, I will always listen and serve as your small business president.”