Korea Federation of SMEs and Ministry of Science and ICT Hold "SME R&D Communication Meeting for Opening the Future"

Request for Expanded SME R&D Support
Discussion on 15 Proposed Measures

The Korea Federation of SMEs announced on May 27 that it held the "SME R&D Communication Meeting for Opening the Future" in collaboration with the Ministry of Science and ICT. The meeting was organized to address the challenges faced by SMEs in the field of research and development (R&D) and to foster an environment for private sector-led technological innovation.

From the SME sector, a total of 15 representatives attended, including Han Byungjun, Chairman of the Korea Information Industry Cooperative, Choi Myunghwan, Chairman of the Yeosu Plant Business Cooperative, Kim Hyungyoung, Executive Vice President of the Innobiz Association, and Lee Sihee, Executive Vice President of the Korea Women Venture Association. From the Ministry of Science and ICT, Ryu Kwangjun, Director-General for Science and Technology Innovation, and Kang Sangwook, Director-General for Science and Technology Policy, attended to listen to the difficulties faced by SMEs and to discuss possible solutions together.

SME representatives at the meeting delivered 15 proposals and requested the development of improvement measures. The proposals included: expanding the R&D support budget for SMEs and cooperatives; providing tax benefits and workforce development support to promote private sector R&D; establishing support projects for the spread of AI by industry and process among SMEs; and creating a specialized T-commerce channel for small business owners.

Jo Jinhyung, Acting Executive Vice President, stated, "Recently, national R&D policies have been concentrated in specific areas, resulting in many cases where SMEs with sufficient technological capabilities and motivation do not even have the opportunity to participate. We hope that inclusive policies will be established so that SMEs with diverse technological levels can participate together. We will continue to make efforts so that this meeting serves as a communication channel that actively conveys the voices from the innovation frontlines of SMEs."