Korea Federation of SMEs holds cooperative activation committee meeting; plastics industry shares naphtha supply case

The Korea Federation of Small and Medium Business holds its first Cooperative Activation Committee meeting of 2026 at the Korea Plastics Hall in Jung-gu, Seoul, on Wednesday, to discuss ways to revitalize small and medium-sized enterprise cooperatives. Chae Jeong-muk (sixth from left), chair of the Cooperative Activation Committee, poses for a photo with attendees. [Korea Federation of SMEs]
The Korea Federation of Small and Medium Business holds its first Cooperative Activation Committee meeting of 2026 at the Korea Plastics Hall in Jung-gu, Seoul, on Wednesday, to discuss ways to revitalize small and medium-sized enterprise cooperatives. Chae Jeong-muk (sixth from left), chair of the Cooperative Activation Committee, poses for a photo with attendees. [Korea Federation of SMEs]

The Korea Federation of Small and Medium Business said Thursday it held the first Cooperative Activation Committee meeting of 2026 at the Korea Plastics Hall in Jung-gu, Seoul, on Wednesday, to discuss ways to revitalize small and medium-sized enterprise cooperatives.

The Cooperative Activation Committee has operated since 2015 to identify regulatory reform tasks for the development of SME cooperatives and to discuss ways to boost joint business activities. Chae Jeong-muk, chairman of the Korea Federation of Plastic Industry Cooperatives, serves as committee chair.

The meeting included reports on the progress of amendments to the SME Cooperative Act, promulgated in May, and a review of key tasks under the Fourth Three-Year Plan for Cooperative Activation. Committee members also discussed future directions and how to apply the measures on the ground.

The Korea Federation of Plastic Industry Cooperatives also shared its operational experience. Kim Young-wook, executive director of the federation, presented the current status and achievements of its joint business activities and described how the federation led industry policy discussions in responding to naphtha supply disruptions caused by the recent situation in the Middle East.

The federation operates the Korea Plastics Testing Institute, the first cooperative body to receive accreditation as a KOLAS-certified testing institution. Beyond pursuing joint projects such as group standards and collective purchasing, it has signed a mutual cooperation agreement to address naphtha supply issues stemming from the Middle East situation, serving as a channel for conveying the industry's on-the-ground concerns.

After hearing about the federation's business activities and the difficulties encountered in pursuing joint projects, committee members agreed that regulatory reform and the identification of new support programs are needed to revitalize cooperatives.

"As complex and sweeping environmental changes intensify, individual small and medium-sized enterprises are finding it increasingly difficult to overcome crises on their own," committee chair Chae said. "The importance of cooperatives in driving industry growth and protecting the rights and interests of businesses is only growing."


hong@heraldcorp.com