First Meeting with Platform Companies After Minister Yusangim's Inauguration
Naver Expands Fund with Cumulative Support of 600 Billion KRW
Kakao Supports Education Using Digital Marketing
Yoo Sang-im, Minister of Science and ICT, met with platform companies such as Naver and Kakao for the first time since taking office to collaborate on support for small business owners and win-win cooperation measures. Each platform company promised to actively support the digital transformation of small business owners, including Naver's investment of 60 billion KRW to strengthen AI capabilities for small business owners and Kakao's support for digital marketing education.
On the 6th, Hwang Do-yeon, CEO of Danggeun Market, Park Dae-jun, CEO of Coupang, Choi Soo-yeon, CEO of Naver, Park Sung-ho, Chairman of the Internet Enterprise Association, Yoo Sang-im, Minister of Science and ICT, Lee Bong-ui, Professor at Seoul National University, and Jeong Shin-ah, CEO of Kakao (from left), who attended the major platform CEOs meeting held at the Seoul Press Center, are taking a commemorative photo. Photo by Jo Yong-jun
According to the Ministry of Science and ICT on the 6th, Minister Yoo met at 8 a.m. at the Korea Press Center with representatives of major platform companies such as Naver, Kakao, Coupang, and Danggeun Market to discuss win-win cooperation measures to strengthen the social role of platforms and resolve livelihood issues. This was Minister Yoo's first meeting with platform companies since taking office.
Earlier, President Yoon Suk-yeol stated, "All government ministries will become one team to help small business owners." Accordingly, the Ministry of Science and ICT launched the 'Digital Service Livelihood Support Task Force' to resolve the dysfunctions of digital services and strengthen support for small business owners based on digital services.
In his opening remarks, Minister Yoo said, "Platform companies play an important role in opening new market opportunities for small business owners and SMEs," adding, "It is necessary to fulfill social responsibilities commensurate with the influence of platforms and to make efforts to grow together with market participants."
Minister Yoo Sang-im of the Ministry of Science and ICT is speaking at the CEO meeting of major platform companies held at the Seoul Press Center on the 6th. Attendees at the meeting included Choi Soo-yeon, CEO of Naver; Jeong Shin-ah, CEO of Kakao; Park Dae-jun, CEO of Coupang; Hwang Do-yeon, CEO of Danggeun Market; and Park Sung-ho, Chairman of the Internet Enterprise Association. Photo by Jo Yong-jun
He also cited statistics showing that companies using online platforms have higher sales and lower closure rates than those not using them, stating, "If platforms support small business owners in expanding sales channels and digital transformation, it will greatly help them enhance their competitiveness, which will serve as a foundation for the sustainable growth of platform companies." The average daily sales of companies using platforms are 1 million KRW, compared to 650,000 KRW for non-users. The closure rates in the restaurant industry are 6.9% and 11.5%, respectively, and in the lifestyle service industry, 2.7% and 9.6%, respectively.
Professor Lee Bong-ui of Seoul National University gave a presentation titled "Reflections on the Value of Platforms and Platform Policies." Professor Lee said, "Korea has several competitive native platforms but lags behind global big tech companies," and suggested, "Laws and policies should be established to develop K-platforms into important national industries."
Major platform companies announced their current win-win cooperation activities and plans.
Naver plans to expand and reorganize its Fountain Fund, created to support the digital transformation of small business owners and creators, and strengthen support programs based on it. The Fountain Fund is the resource for Naver's win-win cooperation program 'Project Flower,' with a cumulative fund exceeding 600 billion KRW. Additionally, Naver plans to invest 60 billion KRW over the next five years in a large-scale 'SME AI Education Project' to enhance AI solution utilization capabilities for 1 million small business owners.
On the 6th, at the Science and Technology Information and Communication Ministry-Major Platform Companies CEOs Meeting held at the Seoul Press Center, Park Dae-jun, CEO of Coupang (from the right), along with Choi Soo-yeon, CEO of Naver, Jeong Shin-ah, CEO of Kakao, Hwang Do-yeon, CEO of Danggeun Market, and Park Sung-ho, Chairman of the Internet Enterprise Association, are listening to remarks by Minister Yusang-im of the Ministry of Science and ICT. Photo by Jo Yong-jun
Kakao will expand the target of its 'Project Dangol' support from individual markets and streets to entire adjacent markets and streets at the city level to help small business owners secure online regular customers. Participants in 'Project Dangol' will receive tutors for digital marketing education, and support will be provided for KakaoTalk channel message sending costs. Kakao plans to support about 100 traditional markets and streets nationwide next year. Support programs such as industry-specific specialized education, regular customer mentor training, and discovery of star regular stores will also be strengthened.
Additionally, Kakao will increase the settlement frequency of gift certificate exchanges from 4 to 10 times per month and support KakaoTalk channel message sending costs of 300,000 KRW per person for all applying small business owners. Furthermore, Kakao plans to support the expansion of sales channels for local fisheries in connection with the 'Korea Dullegil' trail.
Coupang has established a 'Science and Technology & ICT SME Exclusive Hall' to discover innovative products from small and medium-sized business owners and support discount promotion costs. It also plans to expand the fast payment settlement service launched last year from open market sellers to Rocket Growth (Coupang's product distribution agency service) sellers within this year.
Danggeun Market reported that it connects local stores and residents through events such as Biz Profile, Danggeun Sajangnim School, and the 'Danggeun Neighborhood Boss Awards,' and links local jobs through the 'Neighborhood Job Fair.'
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