Korea Federation of SMEs Discusses Ways to Enhance Fairness in Startup Support Systems

2nd Youth and Future Committee for Small and Medium Enterprises

The Korea Federation of Small and Medium Business announced on the 16th that it held the "2nd Youth and Future Committee for Small and Medium Enterprises" at its headquarters in Yeongdeungpo-gu, Seoul.

Exterior of the Korea Federation of Small and Medium Business in Yeongdeungpo-gu, Seoul

The Youth and Future Committee for Small and Medium Enterprises, launched in May this year, brings together representatives of early- and mid-stage SMEs established less than 10 years ago, as well as experts from research and academia, to improve startup support systems and develop new SME policies.

At the committee meeting, Lee Ilhan, a professor at Chung-Ang University's Department of Business Administration, gave a presentation on "Diagnosis and Improvement Measures for Startup Support System Evaluation and Review." The discussion focused on ways to enhance the fairness and professionalism of the startup support system.

Chairman Kim Hakbeom stated, "Korea's startup support system has continued to grow under the government's active support," adding, "Now is the time to move beyond quantitative growth through increased budgets and consider the qualitative growth of the startup support system." He continued, "Based on discussions and research among committee members, we plan to hold a forum next month with the Korea Academic Society of Small Business and Entrepreneurship to discuss ways to improve the startup ecosystem. We will propose measures to the government to address shortcomings in the current startup support system and do our best to create an environment where innovative SMEs and startups can thrive."