FSC meeting with Korean Women Entrepreneurs Association

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Hello readers! What did you do on Teachers Day? When you were thinking of how to please your teachers, the FSC was thinking of how to improve financial environment for women entrepreneurs. There was a meeting of the FSC chairman with women entrepreneurs on teachers’ day, and here’s what had been discussed.

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FSC Chairman Shin Je-yoon visited the Korean Women Entrepreneurs Association (KWEA) last Wednesday, May 15, 2013. Before the meeting, Chairman Shin visited women business incubator center and had a talk with soon-to-be women entrepreneurs and listened to their current situations as well as difficulties they are faced with. Also, he met KWEA chairman Lee Min-Je and seven other women entrepreneur representatives and gathered opinions on how to develop Korean women enterprises. At the meeting, vice ministers from the Ministry of Gender Equality & Family, Korea Federation of Banks, Industrial Bank of Korea, and executives of Korea Credit Guarantee Fund and Korea Technology Finance Corporation were present to share ideas and discuss on the issue of women entrepreneurs.

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At the meeting, KWEA offered five suggestions to the FSC: support for low-income matriarch’s business startup, financial support exclusively for women enterprises, Fast Track financial support exclusively for women enterprises, improvement on Business to Business(B2B) and reimbursement commission problem, and support for the women’s finance academy. In regard to these suggestions, Chairman Shin promised to seek financial instruments considering matriarch and single mother, improve the system for SMEs, enhance effectiveness of women enterprises’ credit guarantee, monitor and solve unfair practice of financial institutions, and fully support the establishment of women’s finance academy. He went on to saying that the government can enhance support for women enterprises through Smile Microcredit or New Hope loans, and suggested a MOU between the Korea Federation of Banks and KWEA. His suggestion shows his effort to provide financial support package programs for women workers. Chairman Shin showed his belief in the power of women workers. He emphasized women entrepreneurs’ major role in the Korean economy for their flexibility and sensitiveness as ‘woman’ can create synergy when combined with passion as ‘SME entrepreneur’.

As a woman, I’m glad to hear such effort had been made and the chairman showed positive response to the KWEA’s requests. The FSC’s such effort will serve as a foundation for the creative economy. Even if this is just a beginning and we have more to go, I expect those efforts will bring about betterment in financial environment for women.

Yeajin Shim (greatshimbabe@gmail.com)

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