75.7% of SMEs Say Next President Must Have Ability to Drive Economic Growth

Survey of SME Opinions: What the 21st President Should Deliver

Three out of four small and medium-sized enterprises (SMEs) identified "the ability to drive economic growth" as the most important competency or qualification for the next president.

On May 11, the Korea Federation of SMEs announced the results of its survey titled "What SMEs Expect from the 21st President." The survey was conducted from April 21 to 25 and targeted 604 SMEs and small business owners.

First, 75.7% of the companies responded that "the ability to drive economic growth" is the most important competency or qualification for the next president. This indicates that economic capabilities are considered the most essential presidential quality.

When asked about the direction of state affairs the next president should pursue, the most common response was "revitalizing domestic demand and stabilizing people's livelihoods" (48.0%). This was followed by "labor reform and job creation" (45.7%), "overcoming demographic crises such as low birth rates and aging population" (36.6%), "corporate innovation and regulatory reform" (24.5%), and "addressing imbalances between the capital region and other areas" (19.2%).

Regarding the key policy tasks for SMEs and small business owners that the next president should prioritize, the survey found: ▲ For sustainable jobs, "support for youth employment" (4.07 points); ▲ For securing growth engines, "expanding financial support and revitalizing venture investment" (3.82 points); ▲ For economic ecosystem circulation, "fostering specialized industries, workforce, and financial support for regional SMEs" (4.08 points).

When asked about the most important value to consider in implementing SME and small business support policies, "growth" ranked highest (31.3%), followed by "fairness" (24.0%), "consistency" (17.7%), "innovation" (17.5%), and "distribution" (9.4%).

Kim Ki-moon, chairman of the Korea Federation of SMEs, stated, "The SME community hopes that the next president will quickly restore the stagnant economy amid growing domestic and international uncertainties." He added, "We hope that revitalizing domestic demand and stabilizing people's livelihoods will be set as the direction of state affairs, and that policy tasks such as 'support for youth employment' and 'fostering specialized industries for regional SMEs' will be reflected in the pledges of presidential candidates, so that SMEs can overcome crises and establish a foundation for growth."