Innobiz Association: "New Administration Must Strengthen Support for SMEs in the Era of Technological Hegemony"

"Expand Private-Led R&D...
SMEs Must Be Recognized as Equal Partners"

The Innobiz Association sent a congratulatory message to President Lee Jaemyung on his inauguration as the 21st President, urging the new administration to demonstrate leadership that drives innovation and progress in the era of technological hegemony.

On June 4, the Innobiz Association released a statement saying, "Together with over 23,000 Innobiz companies, we sincerely congratulate President Lee Jaemyung on his inauguration as the 21st President," adding, "We welcome this as the starting point for the full realization of the President's philosophy and vision for a 'True Korea.'"

The association continued, "We hope the new administration will demonstrate leadership that drives innovation and progress to prepare for the future," and stated, "Our economy is facing challenges such as slowing growth and global competition for technological supremacy, both of which demand bold change."

The association emphasized, "In particular, in this 'era of technological hegemony' where science and technology determine national competitiveness, a strategic approach for the future is essential." It further stressed, "We must expand private-led research and development (R&D) and focus on securing future technologies linked to advanced strategic industries." The association also suggested, "Policy support should be strengthened so that Korea can emerge as a 'technology-export powerhouse' and small and medium-sized enterprises can stand at the center of the global innovation ecosystem."

Regarding the role of the government, the association stated, "We hope that small and medium-sized enterprises will be recognized as equal partners in industrial strategy, and that the government and the private sector will cooperate to create an R&D innovation ecosystem." It added, "Small and medium-sized enterprises at the heart of technological innovation will become the core foundation of Korea's economy and grow as global leaders in innovation."

Finally, the association declared, "Innobiz companies will lead a new era of transformation in Korean industry based on their technological innovation capabilities," and added, "We will take the lead in R&D innovation through collaborative networks and do our utmost to build a global ecosystem." The association also expressed, "We hope the leadership of the 21st President will further solidify Korea as an industrial powerhouse and contribute to its rise as a true leader in technological innovation."