'Special Committee to Support Corporate Growth' Launched
Kim Han-gil "Yoon Requests Role for Integration Committee"
Detailed Policy Tasks to Be Prepared in Q1 Next Year
The Presidential Committee for National Integration announced on the 22nd the launch of a 'Special Committee to Support Corporate Growth.' The plan focuses on preparing practical measures such as the growth of small and medium-sized enterprises (SMEs) to address polarization, a key task in the second half of President Yoon Seok-yeol's administration.
On the morning of the same day, the National Integration Committee held the inauguration ceremony and the first meeting of the 'Special Committee to Support Corporate Growth' at the Government Seoul Office. The special committee consists of 11 members, including Chairman Seo Jeong-mo (CEO of Monas Lab), academics and researchers in the field of corporate growth, and field experts.
Kim Han-gil, Chairman of the National Integration Committee, said in his opening remarks, "Recently, the President declared that he would make proactive efforts during the second half of his term to correct polarization issues such as income and education inequality," adding, "He also urged the National Integration Committee to play an active role in resolving polarization."
He continued, "The wages of SMEs, which are about half the level of large corporations, are one of the key factors causing income polarization," emphasizing, "the shortcut to overcoming this lies in good jobs, and the success of job creation depends on the growth of SMEs."
He further explained, "We need to build a 'corporate growth ladder' that enables capable SMEs to grow into mid-sized and large companies, thereby improving the current pin-shaped corporate distribution?where micro-businesses account for 95%?into a stable pyramid structure."
The National Integration Committee stated, "SMEs account for 99.9% of all companies, 81.3% of total employees, and 65.3% of value added, serving as the backbone of the national economy," adding, "The growth of SMEs is key to creating quality jobs and resolving economic polarization."
However, it explained, "the share of SMEs in total corporate sales has been continuously declining, intensifying polarization among companies," and "there is an urgent need to prepare multifaceted measures for SME growth, including financing, workforce supply, and regulatory improvements."
Going forward, the special committee plans to derive policy tasks that are highly effective and feasible in the field of SMEs, focusing on three main areas: creating a growth ecosystem, rationalizing regulations and systems, and revitalizing private investment.
To create a growth ecosystem, solutions will be developed to establish a virtuous cycle structure for corporate growth, including a private-sector-led support system, talent development, and human resource management plans.
They will review reasonable improvements to regulations and systems to promote corporate growth, such as resolving conflicts in new business market entry and revitalizing business succession, and seek ways to activate investment, including expanding private investment resources and diversifying financing methods.
Based on this, the plan is to prepare effective detailed policy tasks by the first quarter of next year.
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