Ministry of SMEs and Startups and Ministry of Trade, Industry and Energy Collaborate to Foster Future Growth Engines

'Ministry of SMEs and Startups - Ministry of Industry Policy Council' Held

To foster future growth industries, the Ministry of SMEs and Startups and the Ministry of Trade, Industry and Energy have decided to link their individually promoted support projects throughout the entire process.

The Ministry of SMEs and Startups announced that Vice Minister Oh Ki-woong and First Vice Minister Kang Kyung-sung of the Ministry of Trade, Industry and Energy held the ‘SMEs-Ministry of Trade, Industry and Energy Policy Council’ on the 28th. Considering the rapidly changing domestic and international situations such as high inflation, high exchange rates, and unstable Middle East conditions, the Ministry of SMEs and Startups and the Ministry of Trade, Industry and Energy, which are responsible for the real economy, discussed cooperation plans on eight policy tasks identified under themes such as ‘public livelihood perception’ and ‘linkage of corporate and industrial policies’ and decided to provide full support.

First, support projects currently being promoted to foster future growth industries such as the root industry, advanced robotics industry, and excellent deep-tech startups will be linked and strengthened across the entire value chain, including process development, equipment introduction, and global expansion.

Additionally, through linking the Ministry of SMEs and Startups’ ‘Donghaeng Festival’ and the Ministry of Trade, Industry and Energy’s ‘Korea Sale Festa’ events, cooperation will be strengthened so that both events can contribute to boosting domestic demand and revitalizing local economies.

In response to the relaxation of large mart business regulations being promoted following the public livelihood forum, the large and small distribution win-win council for discussing win-win measures for small and medium distribution will also be resumed promptly.

Vice Minister Oh Ki-woong of the Ministry of SMEs and Startups said, “Collaboration between the two ministries responsible for corporate and industrial policies is essential for the development and growth of small, medium, and venture companies as well as small business owners,” adding, “We expect synergy through policy collaboration and close mutual cooperation between ministries in the future.”

Vice Minister Kang Kyung-sung of the Ministry of Trade, Industry and Energy emphasized, “We must quickly produce tangible results that the public and companies can feel through rapid institutional improvements and project implementation.”