A Veteran Bureaucrat with 20 Years of Experience in SME Policy
On November 14, Lee Byungkwon, policy committee expert of the Democratic Party of Korea, was appointed as the inaugural Second Vice Minister of the Ministry of SMEs and Startups, responsible for supporting and nurturing small business owners. Amid a worsening business environment for small businesses due to the economic downturn and high inflation, a seasoned "policy veteran" with extensive experience at the Ministry of SMEs and Startups has been chosen as the first person to take on this newly created vice ministerial position.
The new vice minister is a career bureaucrat who has overseen SME policy for 20 years. After graduating from Yonsei University, he entered public service in 1995 through the 39th National Civil Service Exam. He worked at the Ministry of Planning and Budget and, since 2005, has served exclusively at the Small and Medium Business Administration and the Ministry of SMEs and Startups. At the ministry, he held positions such as Director of Small Business Policy, Director of Growth Support Policy, and Director of Policy Planning. From August 2022 to September this year, he served as head of the Seoul Regional Office of the Ministry of SMEs and Startups. Since then, he has worked as a policy committee expert for the Democratic Party.
He is expected to focus on resolving pressing issues facing small business owners, such as the increase in business closures, and on revitalizing local economies. Having broad experience in supporting small businesses in areas such as finance, market access, and startups, he is expected to strengthen the support and development system for small business owners based on his ability to execute policies on the ground. Kim Namjoon, spokesperson for the Presidential Office, explained, "He has been recognized for his strong work performance, including establishing various policies to expand sales channels for small businesses and protect traditional markets."
The Lee Jaemyung administration created the Second Vice Minister position dedicated to small business policy at the Ministry of SMEs and Startups through an amendment to the Government Organization Act in September, but the post had remained vacant for over two months. Initially, former Blue House secretary for self-employed affairs under the Moon Jaein administration, In Taeyeon, was considered a candidate, but he was reportedly excluded due to potential political burdens. In Taeyeon is the brother-in-law of Kim Eo-jun, a broadcaster known for his pro-government stance.
The small business community expects the new vice minister to serve as a control tower, systematically coordinating small business-related policies that are currently scattered across different ministries. The Korea Federation of Micro Enterprise stated, "We expect the new vice minister, who has both a deep understanding of and policy expertise in small business, to serve as a communication channel between the industry and the government," adding, "We express high expectations for the newly established vice ministerial post dedicated to small business at the Ministry of SMEs and Startups, which was created in response to the wishes of 7.9 million small business owners in Korea."
Vice Minister Lee said, "I feel a great sense of responsibility being appointed as the Second Vice Minister of the Ministry of SMEs and Startups, which is in charge of policies for small business owners and the self-employed, the backbone of the Korean economy," and added, "I will do my best to ease the difficulties faced by small business owners in the field and to create a vibrant business environment, especially in this era of polarization."
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