Hansung Sook, a First-Generation IT Expert,
Expected to Lead SME Innovation
Platform Experience Seen as Key Asset
in Supporting Small Business Owners
Anticipation Grows for AI and Digital Transformation
Under Lee Jaemyung Administration
Analysts suggest that President Lee Jaemyung’s bold decision to nominate Hansung Sook, advisor at Naver, as the candidate for Minister of SMEs and Startups is largely driven by expectations that she will lead innovation in policies for small and medium-sized enterprises (SMEs) and small business owners.
There is a growing consensus that, as a prominent first-generation information technology (IT) expert, Hansung Sook is uniquely positioned to accurately grasp the rapidly changing trends in the SME and venture industries. Additionally, her experience as CEO of Naver, where she promoted the growth and digital transformation of small merchants through the platform, is expected to enable her to offer new perspectives on policies for the protection and development of small business owners. If she passes the National Assembly’s confirmation hearing, Hansung Sook will become the first Minister of SMEs and Startups with a purely corporate background since the ministry’s establishment.
On June 24, the Korea Federation of SMEs described Hansung Sook as “a business leader with extensive experience in the IT sector, making her the right person to build a digital ecosystem by promoting the AI and digital transformation of SMEs and small business owners during this era of industrial upheaval.”
This assessment is closely linked to “Project Flower,” an initiative Hansung Sook led as CEO of Naver. Project Flower is Naver’s SME support program, which has aided the growth of hundreds of thousands of online and offline SMEs and contributed to the development of a non-face-to-face business ecosystem. Through this, Hansung Sook is credited with establishing the role of platforms in supporting the growth of SMEs and small business owners.
In 2019, Naver, under her leadership, became the first “voluntary win-win company” to sign agreements with the Ministry of SMEs and Startups and the Korea Federation of Micro Enterprises to foster coexistence between small business owners and large corporations. This is why the small business community regards Hansung Sook as a business leader with a particularly deep understanding of small business owners.
The Korea Federation of Micro Enterprises stated, “Through this agreement, ‘Naver Partners Square,’ a space for small business education and digital support, was expanded. Programs to promote digital transformation and win-win cooperation?such as expanding small business owners’ online presence and launching joint promotional events using the Naver Shopping platform?remain active to this day.” The organization added, “Thanks to Hansung Sook’s leadership, Naver has become a leading homegrown platform company in win-win cooperation with small business owners.”
Within and outside the Ministry of SMEs and Startups, there is growing anticipation that Hansung Sook’s background will help qualitatively elevate policies in the startup and venture sectors. The ministry’s role is also expected to expand under the Lee Jaemyung administration’s vision of making Korea one of the world’s top three AI powers, as Hansung Sook played a leading role in Naver’s transformation from a venture company to the nation’s top internet firm and eventually a major conglomerate.
She served as Head of Naver’s Service Division and Chief Service Officer, specializing Naver as a mobile platform during the smartphone boom and contributing to the expansion of its global services. She also played a role in pioneering partial monetization of webtoons in the industry and launching Naver Pay, a simple payment service. As CEO, she led high growth centered on video and payment businesses.
An industry insider commented, “Hansung Sook’s nomination signals the government’s intention to focus policy efforts on AI, advanced industries, and fostering future growth engines. As someone with hands-on corporate experience, she will be able to accurately reflect the industry’s challenges in policy.”
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