Yoon: "Innovate Regulations for SMEs... Quickly Establish Support Programs"

Yoon Hosts 'Small and Medium Business Entrepreneurs Conference' for 3 Consecutive Years
Chairman Lee Jae-yong and Other Large Corporation Heads Attend
"Small and Medium Businesses Must Thrive for Better Livelihoods"

President Yoon Suk-yeol delivers an encouragement speech at the '2024 Korea Small and Medium Business Conference' held on the lawn of the Yongsan Presidential Office in Seoul on the 23rd. [Image source=Yonhap News]

President Yoon Suk-yeol stated on the 23rd, "Small and medium-sized enterprises (SMEs) must thrive for the livelihood of the people to improve," and pledged to establish support programs for SMEs as soon as possible.

On the afternoon of the same day, President Yoon held the 'SME Entrepreneurs Conference' at the lawn yard of the Yongsan Presidential Office, inviting about 500 people including Samsung Group Chairman Lee Jae-yong and other large conglomerate heads as well as SME entrepreneurs, where he made these remarks.

The SME Entrepreneurs Conference is the largest annual event in the SME sector, held every year since the third week of May was designated as SME Week under the Framework Act on Small and Medium Enterprises in 1989. President Yoon has hosted this conference at the Presidential Office for three consecutive years since his inauguration.

In his first year in office in 2022, he invited the heads of the five major conglomerates for the first time to pledge mutual growth and coexistence between large corporations and SMEs. Last year, he held a proclamation ceremony for a "Korea Growing Together" by inviting representatives from large corporations, SMEs, and startups led by those under 40.

In his encouragement speech on this day, President Yoon said, "I have many fond memories of actively conducting sales diplomacy around the world with SMEs over the past two years," adding, "I was most delighted to hear that the SMEs who accompanied the tours achieved good results."

He continued, "We will firmly support SMEs, venture companies, and startups that have the competitiveness to enter the global market," emphasizing, "We will promptly prepare specific programs based on the support grounds established by the amendment of the Startup Support Act in February."

Expressing gratitude to the SME entrepreneurs working on the front lines, President Yoon said, "Only when SMEs do well will there be more good jobs and the livelihood of the people will improve further."

President Yoon Suk-yeol is attending the '2024 Korea Small and Medium Business Conference' held on the lawn of the Presidential Office in Yongsan, Seoul, on the 23rd. [Image source=Yonhap News]

In particular, he added, "We will innovate regulations and create a business-friendly environment for the growth of SMEs," and "We will accelerate sales diplomacy even more."

The event was held under the slogan "With SMEs to the World! To the Future!" with the theme of "Globalization of SMEs." President Yoon awarded and encouraged 11 SME entrepreneurs with honors including the Gold Tower Order of Industrial Service Merit.

The event was attended by about 500 people including Kim Ki-moon, Chairman of the Korea Federation of SMEs, and officials from related organizations and institutions.

Large conglomerate heads such as Samsung Group Chairman Lee Jae-yong, LG Group Chairman Koo Kwang-mo, POSCO Group Chairman Jang In-hwa, Hanwha Group Vice Chairman Kim Dong-kwan, HD Hyundai CEO Chung Ki-sun, and Shinsegae Chairman Chung Yong-jin attended, along with ambassadors from 12 countries stationed in Korea.

From the government, Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok, Minister of Foreign Affairs Cho Tae-yul, Minister of Trade, Industry and Energy Ahn Duk-geun, Minister of Environment Han Hwa-jin, Minister of Employment and Labor Lee Jeong-sik, Minister of SMEs and Startups Oh Young-joo, Chairman of the Fair Trade Commission Han Ki-jung, and Chairman of the Financial Services Commission Kim Joo-hyun were present.