Shared Growth Committee Recommends Designating Industrial Laundry Services as Suitable for SMEs... Large Enterprises Restricted from Entering Market for 3 Years

Substitute Driving Industry to Be Reconsidered Later
Homeplus and Korea Ginseng Corporation Granted Deferred Index Evaluation

The Shared Growth Committee announced on the 25th that it held the 83rd plenary meeting of the Shared Growth Committee at the JW Marriott Hotel in Seocho-gu, Seoul.

Lee Dalgon, Chairman of the Shared Growth Committee, is delivering a greeting at the 83rd Shared Growth Committee meeting. Shared Growth Committee

At the meeting, the following agenda items were reviewed and approved: a recommendation to designate industrial laundry services as a business suitable for small and medium-sized enterprises (SMEs); a renewed agreement on the designation of the substitute driving industry as a business suitable for SMEs; and changes to the evaluation targets for the 2025 Shared Growth Index.

First, the committee recommended that industrial laundry services be designated as a business suitable for SMEs. Industrial laundry services involve the cleaning of industrial and commercial laundry and are predominantly operated by small-scale SMEs and micro-business owners. A proposal for mutual growth between large enterprises and SMEs was submitted.

Accordingly, for the next three years, large enterprises are advised to refrain from entering the industrial laundry service market (excluding medical laundry), and existing large enterprises will discuss measures for mutual cooperation with SMEs and micro-business owners through a mutual growth council. Meanwhile, regarding the substitute driving industry, the committee reviewed the renewed agreement on its designation as a business suitable for SMEs but decided to conduct further investigation and revisit the matter at the next committee meeting.

At the same meeting, the committee also reviewed and approved a proposal to defer the Shared Growth Index evaluation for two companies among the 2025 evaluation targets. Homeplus will have its evaluation deferred until its management normalizes, taking into account its recently deteriorated business conditions. Korea Ginseng Corporation will have its evaluation deferred for one year due to the absence of a 'Fair Trade and Mutual Growth Agreement' with the Fair Trade Commission. However, once the agreement is signed, the company will be reinstated as an evaluation target for that year.

Chairman Lee Dalgon stated, "Balanced development and cooperation between large enterprises and SMEs are the key to opening a sustainable future for Korea," and added, "The committee will also do its utmost to expand voluntary and innovative mutual growth efforts among companies and to strengthen the committee's standing in line with government policies."