'APEC Small and Medium Enterprises Ministerial Meeting' in Korea Next Year... 'Agents of Sustainable and Inclusive Growth'

Ministry of SMEs and Startups Announces Next Year's Theme at This Year's Meeting
Requests Cooperation from Key Figures for Successful Event Next Year

The theme of next year's Asia-Pacific Economic Cooperation (APEC) SME Ministers' Meeting to be held in South Korea has been confirmed as "MSMEs as Engine of Sustainable and Inclusive Growth."

Oh Young-joo, Minister of SMEs and Startups, is speaking at the 'APEC SME Ministers' Meeting Private Advisory Group Meeting' held in Seoul on July 25.
[Photo by Ministry of SMEs and Startups]

On the 15th, the Ministry of SMEs and Startups announced that it had unveiled the agenda for next year's APEC SME Ministers' Meeting at the 30th APEC SME Ministers' Meeting held on the 13th (local time) in Pucallpa, Peru.

The 31st APEC SME Ministers' Meeting is scheduled to be held domestically. The APEC SME Ministers' Meeting is a forum where ministers responsible for SMEs from member economies discuss key issues. The Ministry of SMEs and Startups dispatched a delegation led by Lee Dae-hee, Director General of the SME Policy Bureau, as the chief representative to this meeting.

At this meeting, 21 member economies discussed three thematic sessions: "Measures to Overcome the Informal Economy and Promote Globalization of SMEs," "Support Measures for SMEs in Response to Changes in the External Environment," and "Development of SME Promotion Programs." The informal economy refers to economic activities conducted outside the government's official regulations or tax systems.

The Ministry of SMEs and Startups participated in the session on developing SME promotion programs and emphasized the importance of digital transformation as a strategy for innovation and growth of SMEs. It also introduced Korea's digital transformation policy cases, including manufacturing innovation through smart factories, support projects for small business owners' entry into online markets, and the smart store dissemination project.

Separately from the main meeting, time was also spent building networks with key figures from member economies. Director Lee held meetings with Sergio Gonzalez Guerrero, Minister of Production of Peru, and Diane Farrell, Deputy Under Secretary of the U.S. Department of Commerce, to learn about their experiences and know-how in hosting the APEC SME Ministers' Meeting. He also requested cooperation to ensure the successful progress of next year's meeting to be held in Korea.

Director Lee said, "It was a meaningful time to discuss policy issues with leaders in the international SME field and to introduce our country's digital transformation policies. Next year, as Korea hosts the APEC SME Ministers' Meeting for the first time in 20 years since Daegu in 2005, we are making thorough preparations for a successful meeting."