60% of SMEs Expect President to Faithfully Implement SME Policy Pledges

Emphasis on "Strengthening Communication with the SME Community" for Implementation

More than half of small and medium-sized enterprises (SMEs) expect that the president will faithfully implement SME policy pledges.

On June 10, the Korea Federation of SMEs announced the results of its survey, "What SMEs and Small Business Owners Expect from the 21st President," revealing that 6 out of 10 respondent companies (63.0%) answered that they believe the president will faithfully implement SME policy pledges. The survey was conducted over two days, from June 4 to 5, targeting 300 SMEs and small business owners.

When asked about the most important factor for implementing SME policy pledges, the largest proportion cited "strengthening communication with the SME community" (45.3%). This was followed by "enhancing communication and cooperation with the National Assembly and opposition parties" (21.7%), "SME community participation in the process of formulating national policy tasks" (18.0%), and "eliminating silos and strengthening collaboration among government ministries" (14.7%).

Regarding which SME policy pledges should be prioritized, respondents most frequently selected "support for small business owners and the self-employed" (46.7%), followed by "creating a fair and mutually beneficial business environment" (35.0%), "support for AI and digital transformation and carbon neutrality" (22.7%), and "expanding R&D and supporting technology protection" (22.0%).

As for the most important aspect for successful national governance, respondents cited "revitalizing domestic demand and stabilizing people's livelihoods" (46.0%) as the top priority, followed by "driving economic growth" (41.0%), "labor reform and job creation" (39.0%), and "overcoming demographic crises such as low birth rates and aging population" (23.3%).

Kim Ki-moon, chairman of the Korea Federation of SMEs, stated, "SME leaders hope that President Lee Jaemyung will strengthen communication with the SME community and successfully implement SME policy pledges," adding, "We expect the new administration to achieve revitalization of domestic demand and stabilization of people's livelihoods by expanding support for SMEs and small business owners and creating a fair business environment, so that 8.04 million SMEs can become a new growth engine for the Korean economy."