Finance Minister Hong Nam-ki has promised custom-tailored policies for small business owners. 

In a roundtable meeting with the Korea Federation of Micro Enterprise on Thursday, the minister said the government has thus far dealt with small business owners within policies for small- and mid-sized enterprises(SMEs), but that this will be supplemented. 

Hong said the government is reviewing enacting a basic law for small business owners, adding it will help remove “blind spots” in related policies once it passes the parliament. 

He also solicited small business owners’ opinions on major issues that could affect them, including minimum wage hikes.