Announcement of the Centennial Small Business Development Strategy
Fostering 100 Companies for Global Expansion by 2027
The Ministry of SMEs and Startups announced a development strategy to grow Baeknyeon Sosangongin into a regionally representative brand with global competitiveness.
On the 15th, the Ministry of SMEs and Startups held a policy meeting at the Seoul Urban Manufacturing Hub (Small Business Wide-area Specialized Support Center) to announce the 'Baeknyeon Sosangongin Development Strategy' and listen to opinions from the field.
Since 2018, the Ministry of SMEs and Startups has been promoting the Baeknyeon Sosangongin system to support the sustainable growth of small business owners with long history and tradition. They have discovered and supported 2,313 Baeknyeon Sosangongin, including local representative restaurants and traditional craft small business owners. In July this year, with the revision of the Small Business Act, the designation requirements and government support grounds for Baeknyeon Sosangongin were established, leading to a redefinition of the system's direction.
Accordingly, the Ministry conducted the first nationwide public awareness survey on the Baeknyeon Store and Baeknyeon Sosangongin brands since the system's implementation. The survey confirmed that the 'Baeknyeon Store' has the highest recognition among similar certification systems such as the Michelin Guide and Blue Ribbon. Based on this, a development strategy was prepared to enable Baeknyeon Stores to become the core of local commercial districts and create differentiated brand value, growing into global brands recognized in overseas markets.
Specifically, the Ministry of SMEs and Startups composed four detailed promotion strategies.
First, they will advance the support system for Baeknyeon Sosangongin. To enhance the reliability and value of the Baeknyeon Sosangongin brand, the designation and management system will be strengthened. Companies that have grown beyond small enterprises will be managed as 'Honorary Baeknyeon Sosangongin' and utilized as role models for Baeknyeon Sosangongin by passing on success know-how. Additionally, an evaluation system applying legal requirements and strengthened pre- and post-monitoring of business suspension, closure, and administrative disposition history will be implemented. A customized support system through expert capability diagnosis will be established to strengthen qualitative growth.
They will promote regional representative branding and expand public awareness. Core stores with symbolism such as local history and culture will be discovered and nurtured as anchor companies representing the region. Support will be strengthened to revitalize local commercial districts by developing these into nationwide and global tourism products. To this end, a 'Commercial District Revitalization' support track will be newly established, and various promotional events involving public participation and brand slogans from the consumer perspective will be promoted.
They will promote globalization and strengthen brand capabilities through public-private win-win cooperation. By 2027, the goal is to nurture 100 global Baeknyeon Sosangongin companies by discovering excellent companies with global capabilities such as product competitiveness and willingness to enter overseas markets, and providing focused support for export commercialization. Furthermore, through win-win cooperation with financial institutions, public institutions, and private companies, they plan to expand distribution and sales channels by establishing exclusive stores at KTX stations, jointly developing meal kits and home meal replacements (HMR), and more.
Lastly, they will strengthen field communication and performance dissemination and expand the institutional foundation. To enhance communication in the field, such as information exchange and collaborative project discovery among Baeknyeon Sosangongin, regional councils will be established, and regular networking events for sharing achievements will be held. A specialized business succession program will also be operated to discover and nurture prospective Baeknyeon Sosangongin, ensuring that traditional family businesses and skilled techniques are not lost.
Oh Young-joo, Minister of SMEs and Startups, said, “Baeknyeon Sosangongin are proud protagonists and valuable assets who have contributed to our economy and revitalization of local commercial districts by continuing traditions and family businesses for decades. We will effectively implement the detailed tasks of this development strategy so that Baeknyeon Sosangongin can grow beyond small business owners into small and medium enterprises, and further become global companies recognized in the world market, welcoming a new 100 years with expanded policy support.”
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