The Ministry of SMEs and Startups announced on the 19th that it held the 30th SME and Startup Financial Support Awards Ceremony for 2025 at the SME DMC Tower in Mapo-gu, Seoul.
Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups, is delivering a congratulatory speech at the '30th SME and Startup Financial Support Awards Ceremony' held on the 19th at the SME DMC Tower in Mapo-gu, Seoul. Ministry of SMEs and Startups
Celebrating its 30th anniversary this year, the SME and Startup Financial Support Awards Ceremony aims to boost the morale of employees at financial institutions and promote financial support for small business owners and SMEs by recognizing outstanding financial institutions and their staff who have contributed to supporting these sectors.
At this year’s ceremony, a total of 76 awards were presented, including 12 government honors (2 for organizations and 10 for individuals) and 64 commendations from institutional heads (individuals).
In the individual category, Kang Taeyoung, President of NongHyup Bank (Silver Tower Order of Industrial Service Merit), and Seo Jongseok, Executive Director of Industrial Bank of Korea (Industrial Service Medal), were selected as recipients. Daejeon Credit Guarantee Foundation and Jeonbuk Bank were honored with the Presidential Commendation as outstanding institutions for financial support.
Kang Taeyoung, President of NongHyup Bank, who received the Silver Tower Order of Industrial Service Merit, was recognized for providing preferential financial support totaling 12.6 trillion won to SMEs and small business owners, as well as for actively participating in government programs such as conversion guarantees (801.3 billion won) and refinancing loans (50.5 billion won). He was also highly praised for alleviating repayment burdens and expanding growth opportunities for SMEs and small business owners through autonomous interest refund support within the banking sector (320,000 people, 216.9 billion won), fostering 80 global small giants (1.37 billion won), and supporting SME exports (preferential fee support of 500 million dollars).
Seo Jongseok, Executive Director of Industrial Bank of Korea, who received the Industrial Service Medal, was recognized for leading the normalization of SME management through technology-based (IP evaluation) financial support (660.5 billion won), voluntary restructuring and consulting for local crisis-affected SMEs, and for alleviating repayment burdens for small business owners through the operation of IBK’s low-interest refinancing loans (2,000 cases, 81.6 billion won).
In the organizational category, Daejeon Credit Guarantee Foundation, which received the Presidential Commendation, was recognized for its active guarantee support for crisis-hit SMEs and small business owners (total supply of 10 trillion won), expanding customer access to guarantees through digital transformation, supporting business recovery by resolving non-performing SME loans (30.3 billion won), and providing tailored education and consulting for the sustainable growth of local SMEs (70 companies, 121 sessions).
Jeonbuk Bank was recognized for its role in alleviating funding difficulties for local small business owners by actively operating refinancing and maturity extension programs for small business loans (16,000 companies, 4.4 trillion won) through internal process innovation such as the introduction of non-face-to-face automated processes, as well as providing interest refunds and deferments (31 billion won), and operating long-term, low-interest policy loans in cooperation with local governments.
In addition, government honors included three Presidential Commendations and five Prime Minister’s Commendations in the individual category, while institutional head commendations included 39 from the Minister of SMEs and Startups, 10 from the Minister of Economy and Finance, and 15 from the Chairman of the Financial Services Commission.
Three officials from policy financial institutions (Small Enterprise and Market Service, Korea SMEs and Startups Agency, Korea Technology Finance Corporation) who received the Minister of SMEs and Startups Commendation were recognized for their efforts in preventing and eradicating third-party undue intervention in policy finance. They proactively checked for undue third-party intervention before executing policy funds to prevent harm to companies and enhanced the inspection system by collecting patterns of such interventions.
First Vice Minister Noh Yongseok stated, "I would like to thank the employees of financial institutions who have taken the lead in alleviating financial burdens in the field for small business owners and SMEs. I ask for continued interest and cooperation so that more active financial support can be provided to improve financial accessibility and expand the growth base for small business owners and SMEs."
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