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- Cabinet Decision on the Cabinet Order Regarding the Organization, etc. of Relevant Cabinet Orders Accompanying the Enforcement of Part of the Act for Partially Amending the Industrial Competitiveness Enhancement Act and Other Related Acts, with the effective date for part of the Act determined
Cabinet Decision on the Cabinet Order Regarding the Organization, etc. of Relevant Cabinet Orders Accompanying the Enforcement of Part of the Act for Partially Amending the Industrial Competitiveness Enhancement Act and Other Related Acts, with the effective date for part of the Act determined
June 11, 2021
Today, a cabinet decision was made on the Cabinet Order Regarding the Organization, etc. of Relevant Cabinet Orders Accompanying the Enforcement of Part of the Act for Partially Amending the Industrial Competitiveness Enhancement Act and Other Related Acts, and the Cabinet Order to Stipulate the Effective Date for Part of the Act.
These cabinet orders have been stipulated to accompany the enforcement of the Act for Partially Amending the Industrial Competitiveness Enhancement Act and Other Related Acts (hereinafter referred to as the "Amended Act"). One act concerns organizing relevant cabinet orders pertaining to the provisions of Article 1, Items 1 to 3 of the Supplementary Provisions of the Amended Act, and the other stipulates the effective date for the provisions in Article 1, Item 3 of the Supplementary Provisions of the Amended Act.
1. About the Amended Act
The Amended Act is to take measures to promote (i) a shift to a "Green Society," (ii) responses to digitalization, (iii) reconstruction of businesses toward the "New Normal," and (iv) strengthening of the foundations of SMEs. All of these will be sources for growth in the post-corona era. The aim is to take preemptive actions toward the "New Normal" and support companies' reforms from a long-term perspective, while properly responding to short- to mid- and long-term changes in economic and social circumstances such as the impact of COVID-19 and rapid population decreases.
2. Content of the Cabinet Orders
(1) Cabinet Order Regarding the Organization, Etc. of Relevant Cabinet Orders Accompanying the Enforcement of Part of the Act for Partially Amending the Industrial Competitiveness Enhancement Act and Other Related Acts
This cabinet order stipulates the following:
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The insurance rate for credit insurance for small and medium-sized enterprises pertaining to plans to introduce advanced facilities
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The procedures for payment to the National Treasury of grants for transitional work after completion of transitional measures, regarding the debt guarantee service of the Organization for Small & Medium Enterprises and Regional Innovation abolished by the Amended
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Other revisions to reflect the changes accompanying the enforcement of the Amended Act (e.g., organizing article numbers)
(2) Cabinet Order to Stipulate the Effective Date for Part of the Act for Partially Amending the Industrial Competitiveness Enhancement Act and Other Related Acts
This cabinet order stipulates that June 17, 2021 is the effective date for the provisions in Article 1, item 3 of the Supplementary Provisions of the Amended Act (the expansion of the scope of grants provided by the Organization for Small & Medium Enterprises and Regional Innovation).
3. Schedule
Promulgation:
June 16, 2021 (Wed.)
Enforcement:
June 16, 2021 (Wed.)
Divisions in Charge
Industry Creation Policy Division, Economic and Industrial Policy Bureau
Policy Planning Division, Business Environment Department, Small and Medium Enterprise Agency
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