Ministerial nominee Lee So-young promises roadmap to cut small-business costs, calls nomination-fund allegation a malicious attack

Lee So-young, nominee for South Korea’s minister of SMEs and startups, said she would create a roadmap to reduce the costs pressing small businesses and self-employed workers.

Speaking to reporters after a morning tea meeting at the Korea Federation of SMEs in Yeongdeungpo, Seoul, Lee said she would quantify operating burdens through indicators and use them to establish a cost-reduction plan.

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I will quantify management burdens through indicators and establish a roadmap to reduce costs.

She identified high interest rates, high prices, accumulated debt and delivery-app fees among the burdens weighing on small business owners. She also referred to pressure from Chinese distributors’ aggressive supply offensive and accumulated financial liabilities.

Lee separately rejected an allegation involving nomination funds, calling it a “malicious attack.”

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A malicious attack.