Ministry of SMEs and Startups Launches 'SME Support TF for Trump Administration 2nd Term'

Identifying the Impact on SME Exports and Production and Establishing Countermeasures

The Ministry of SMEs and Startups announced on the 26th that it will form and actively operate the 'TF for Supporting SMEs in Preparation for the Trump 2nd Administration' to closely analyze the anticipated difficulties faced by small and medium-sized enterprises and to prepare prompt response measures following the inauguration of the Trump 2nd Administration.

This TF will be led by the Director General of the SME Policy Office and will include participation from public institutions under the Ministry of SMEs and Startups such as the Small and Medium Business Corporation, which supports exports and policy finance, and the Korea Technology Finance Corporation, as well as SME cooperatives and associations, and the Global One Team Council.

At the first TF meeting held that day, Vice Minister Kim Seong-seop stated, “Since the Trump 2nd Administration is expected to strengthen new protectionism, we will examine the impact on related SMEs and prepare support measures to minimize the shock,” adding, “The Ministry of SMEs and Startups plans to collect difficulties from export companies and local subsidiaries and provide support as quickly as possible.”