Attending Campaign to Boost Domestic Demand and Consumption
Presenting Five Key Policies Including Building Safety Nets for Small Business Owners
Han Sung-sook, Minister of SMEs and Startups, met with representatives from the small and medium-sized enterprise sector to discuss current industry issues. At the meeting, Minister Han emphasized, "We are currently at a turning point that could either become a crisis or an opportunity."
On the 24th, Minister Han Seongsuk of the Ministry of SMEs and Startups visited the alley-type shopping district in Yuseong-gu, Daejeon, meeting with merchants. Ministry of SMEs and Startups
On the 29th, the Ministry of SMEs and Startups announced that Minister Han visited the Korea Federation of SMEs in Yeongdeungpo-gu, Seoul, where she held a campaign to boost domestic demand and consumption, as well as a communication meeting with SME organizations. On this day, the Ministry, together with the SME Organization Council, the Korea Federation of Micro Enterprises, and the Korea Federation of Merchants, launched a campaign to revitalize domestic demand and consumption. The slogan of the livelihood recovery campaign is "A Real Korea Where We Consume Together and Grow Together."
At this event, the Ministry of SMEs and Startups pledged to provide policy support for revitalizing domestic demand and consumption, while organizations such as the Korea Federation of Micro Enterprises and the Korea Federation of Merchants promised to enhance the competitiveness of small businesses and traditional markets by offering consumers high-quality products and services.
In addition, Minister Han held her first official communication meeting with the SME sector since taking office and shared the future policy direction with the industry. In her opening remarks, Minister Han stated, "The main challenges currently facing our economy include difficulties in the livelihood economy due to weakened consumer and investment sentiment, as well as global economic uncertainties such as the spread of protectionism." She diagnosed, "Depending on how we respond, these issues could either become a crisis or serve as a springboard for opportunity, marking a critical turning point."
To overcome these challenges, Minister Han presented five policy directions for the Ministry of SMEs and Startups to pursue: establishing social and disaster safety nets for small business owners; digitalization of SMEs; fostering startups and venture companies; promoting mutual growth between large and small-to-medium enterprises; and building regional economic foundations.
Various suggestions and discussions related to industry issues also took place. Jung Gwangcheon, President of the Innobiz Association, stated, "To expand smart factories utilizing AI, we need common models for each industry and process, and cooperation with large companies is also necessary." In response, Minister Han replied, "We will review restructuring related support programs to reflect the characteristics of each industry and incorporate the know-how of large companies, in cooperation with organizations such as the Korea Federation of SMEs." She also expressed her ambition, saying, "I will work with the mindset of building a highway where SMEs, startups, venture companies, and small business owners can run without limits as our economy takes another leap forward."
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