Announcement of Slogan to Boost Domestic Consumption
Sharing Key Issues with Major Business Leaders
Mention of Future Sector-Specific Meetings
"Will Pay Special Attention to Technology Theft"
Han Sung-sook, Minister of SMEs and Startups, met with representatives from the small business, women, venture, and startup sectors and identified "revitalizing domestic demand" as the most urgent issue. This was the first time Minister Han met with industry representatives since taking office. On this day, Minister Han pledged to provide unwavering policy support to help the struggling livelihood economy regain its vitality.
On the 29th, at the Korea Federation of Small and Medium Business building in Yeongdeungpo-gu, Seoul, Han Sungsook, Minister of SMEs and Startups, along with key heads of small and medium business organizations, held a campaign slogan to promote domestic consumption at the "SME Organization Communication Meeting." Ministry of SMEs and Startups
On the 29th, Minister Han attended the "SME Organization Communication Meeting" hosted by the Korea Federation of SMEs. The meeting was attended by approximately 150 industry representatives, including major SME association leaders such as Kim Ki-moon, Chairman of the Korea Federation of SMEs, Yoon Hak-soo, Chairman of the Korea Specialty Contractors Association, Cho In-ho, Chairman of the Korea Mechanical Construction Contractors Association, Park Chang-sook, Chairwoman of the Korea Women Entrepreneurs Association, as well as chairpersons of SME cooperatives from across the country.
Prior to the meeting, five organizations?including the Korea Federation of SMEs, the Korea Specialty Contractors Association, the Korea Women Entrepreneurs Association, and the Korea Federation of Micro Enterprises?announced a campaign slogan to boost domestic consumption and signed a "Public-Private Joint Resolution for Revitalizing Domestic Consumption." The resolution is centered on these organizations working together to actively promote campaigns that stimulate domestic consumption. In addition, the Ministry of SMEs and Startups pledged to spare no policy support for revitalizing domestic consumption, while SME associations such as the Korea Federation of Micro Enterprises committed to enhancing the competitiveness of small businesses and traditional markets by providing consumers with high-quality products and services.
Kim Ki-moon, Chairman of the Korea Federation of SMEs, stated, "Domestic SMEs and small business owners are facing complex difficulties due to the stagnation of domestic demand, tariff wars, and the influx of low-priced products from China." He added, "The government should boldly ease regulations to revive the manufacturing sector, and I hope that citizens will help struggling small business owners and self-employed people by spending their summer holidays domestically to boost the local economy."
On the 29th, at the Korea Federation of Small and Medium Business building in Yeongdeungpo-gu, Seoul, Minister Sung Sook Han of the Ministry of SMEs and Startups and Chairman Ki Moon Kim of the Korea Federation of Small and Medium Business are having a conversation during the 'Small Business Organization Communication Meeting.' Ministry of SMEs and Startups
On this day, Minister Han outlined five key policy directions that the Ministry of SMEs and Startups will pursue going forward. The main policies are: ▲Establishing a safety net for small businesses ▲Internalizing AI in SMEs ▲Fostering startups and venture companies ▲Promoting mutual growth between large and small-medium enterprises ▲Revitalizing regional economies.
Minister Han emphasized, "The most urgent task is to revitalize the struggling livelihood economy by expanding domestic consumption campaigns and strengthening the safety net for small businesses, such as fire insurance schemes." She continued, "We will enact the Smart Manufacturing Industry Innovation Act so that manufacturing SMEs can internalize AI according to their business characteristics, and we will actively support startups in the five key areas of AI, bio, and mobility." She also added, "Through the introduction of a Korean-style discovery system, we will promote fair competition between large and small-medium enterprises, and by connecting local universities, research institutes, and SMEs in the five major mega-regions and three special autonomous provinces, we will establish a foundation for cooperation and revitalize regional economies."
Afterwards, there was a session where industry representatives voiced their main difficulties, and Minister Han responded to them. At the meeting, a total of 14 suggestions were made, including revitalizing traditional markets, export issues, and digital transformation. In particular, industry representatives requested the following as key tasks: ▲Alleviating financial burdens for sincere debt repayers and fostering promising digital small businesses ▲Expanding the development and adoption of joint AI transformation (AX) models by industry ▲Expanding export support for SMEs ▲Increasing support for youth employment and long-term retention in SMEs ▲Establishing a regulatory innovation roadmap for the globalization of ventures and startups.
An official from the Ministry of SMEs and Startups said, "Since this was Minister Han's first official event since taking office, many SME representatives attended and actively shared their opinions." The official added, "Minister Han plans to hold in-depth discussions on industry issues by sector in the future, and she expressed particular interest in addressing the issue of technology theft from SMEs."
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