Prime Minister Jeong: "Economy Should Become a 'Hangari-type Economy' Centered on SMEs and Mid-sized Companies"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] On the afternoon of the 9th, Prime Minister Chung Sye-kyun hosted the 11th Thursday Dialogue at the Prime Minister's Official Residence in Samcheong-dong, Seoul, inviting mid-sized and small but strong business owners and related experts.

Prime Minister Chung said, "COVID-19 (Novel Coronavirus Infectious Disease) demands a new paradigm for economic structural transformation in various fields," adding, "A 'jar-shaped economy' with a strong middle, centered on small and mid-sized enterprises, is the solution."

Prime Minister Chung and the attendees discussed ways to overcome the stagnation of growth and innovation caused by polarization between large corporations and small businesses.

Lee Hong, president of the Mid-sized Enterprise Association and professor at Kwangwoon University, stated, "Support systems focused on small businesses are hindering growth into mid-sized enterprises," emphasizing the need for improvements in finance, taxation, and research and development systems.