"SME Policy Deliberation Council Should Be Upgraded to a Committee Under the Prime Minister"

Discussion Forum Held to Strengthen Coordination and Oversight of SME Policies

To elevate the status of the comprehensive and coordinating body for small and medium enterprise (SME) policies, an opinion was raised that the SME Policy Deliberation Committee, chaired by the Minister of SMEs and Startups, should be upgraded to the SME Committee under the Prime Minister's Office.

At the "Discussion Forum to Strengthen the Comprehensive and Coordinating Functions of SME Policies" held on the 2nd in the large conference room on the 2nd floor of the Korea Federation of SMEs, Noh Min-seon, head of the Future Strategy Research Group at the Korea Institute for SMEs and Startups, presented this opinion, explaining that "the cases of the Central Safety Management Committee and the Social Security Committee can be referenced."

On this day, the forum was hosted by Lee Seong-man, a member of the Democratic Party of Korea, along with members of the National Assembly's Industry, SMEs, and Startups Committee including Kang Hoon-sik, Kim Kyung-man, Lee Gyu-min, Lee Dong-joo, Lee Soo-jin, and Jeong Tae-ho, and was organized to discuss systematic promotion plans for SME policies. Eight cooperative and association organizations representing SMEs, such as the Korea Federation of SMEs, Korea Women Entrepreneurs Association, and Korea Federation of Micro Enterprise, participated.

At the event, Noh stated, "Since the amendment of the Framework Act on Small and Medium Enterprises in June 2018, the comprehensive and coordinating authority over SME affairs granted to the Minister of SMEs and Startups has not been functioning properly," pointing out the need to strengthen the efficient allocation and coordination functions of the SME support project budget. He further emphasized the necessity to establish a mid- to long-term investment strategy for the SME support project budget to set the direction of SME policies, adding that "it is necessary to include the formulation, overall coordination, and evaluation of SME policies in the duties under the government organization act for the Ministry of SMEs and Startups."

Following this, the discussion was chaired by Han Jeong-hwa, chairman of the Asan Nanum Foundation, with participants including Kim Se-jong, director of the Innobiz Policy Research Institute, Lee Sam-yeol, professor at Yonsei University, Lim Chae-woon, professor at Sogang University, and Chu Moon-gap, head of the Korea Federation of SMEs headquarters, who presented various opinions on strengthening the comprehensive and coordinating functions of SME policies. Chairman Han explained that "compared to the past, the analysis and evaluation functions of SME policies have been strengthened," emphasizing that "it is now important to enhance the enforcement power of the results." He added, "Through systematic promotion of SME policies, I hope that various policies that practically help SMEs will be implemented."

Lee Seong-man, the host of the forum, stated, "Although the government’s budget for SME support projects has increased by 57% over the past three years, efficient policy execution is necessary," adding, "I will continue to pay attention to ensuring that the Ministry of SMEs and Startups can establish a foundation to serve as the control tower overseeing SME policies."

Park Young-sun, Minister of SMEs and Startups, said in her congratulatory remarks, "The support system must be advanced so that SME support projects, which have been implemented separately by each ministry, can be linked and promoted through data analysis, thereby fostering innovative growth of the national economy." She added, "We will definitely reflect the productive outcomes discussed at the forum in policies and cooperate closely with other ministries to this end."