Minister Kwon Chil-seung of the Ministry of SMEs and Startups (MSS) said, “MSS will nurture venture companies and startups that will lead the future.”
In his New Year’s message, Minister Kwon said MSS will raise more than 2 trillion won in additional venture funds by contributing up to 1 trillion won to build the startup and venture ecosystem, while accelerating institutional reform such as the introducing of a multi-class stock.
Minister Kwon said the spread of the COVID-19 pandemic has not dwindled, and companies have more and more varieties to be tackled, such as raw material price hikes, carbon neutrality and ESG management.
But Minister Kwon expressed hope SME venture businessmen and small business owners will overcome hardships and utilize the hurdles as an opportunity to revitalize their businesses by demonstrating a challenging spirit, passion and flexibility, as they always have. MSS will redouble policy efforts, Minister Kwon said.
MSS will ramp up efforts to help small businessmen overcome hurdles and level up their competitiveness, he said. The ministry plans to expand the scope and the amount of compensation that small businesses will receive in return for losses they suffered to comply with the government’s social distancing guidelines to prevent the spread of the pandemic.
MSS has set aside 4.6 trillion won to implement projects to help small businesses tide over a crisis and cope with digital transformation.
Minister Kwon said MSS will build SMEs’ capabilities to cope with environmental changes and their growth foundation.
Lastly, he said, the ministry will build fair trading order and spread shared growth by promoting win-win strategies among platforms and small businesses and implementing a pilot project to introduce a supply unit price indexing system.
Dignitaries, including Prime Minister Kim Boo-kyum, MSS Minister Kwon Chil-seung, Minister Ahn Kyung-duk of the Ministry of Employment and Labor, presidential candidates, Chairman Sohn Kyung-shik of the Korea Enterprises Federation (KEF), and Chairman Kim Ki-mun of the Federation of Small and Medium Business (KBIZ) attend a New Year’s gathering for notables from political, government, and business circles at the KBIZ building in Yeouido, Seoul, on Jan. 5. (Photos: MSS)
KBIZ Chairman Calls for Solutions to Bipolarization
Chairman Kim Ki-mun of the Federation of Small and Medium Business (KBIZ) said, “The top priority task for Korea’s resurgence is to solve bipolarization among large- and small-sized companies.”
He called for the government, the National Assembly and businessmen to make joint efforts to eradicate trading unfairness, market imbalance and institutional irrationality as the SME business community had demanded.
KBIZ Chairman Kim Ki-mun gives a speech at a New Year’s gathering for notables from political, government, and business circles at the KBIZ building in Yeouido.
Chairman Kim made the remarks in his opening speech to a New Year’s gathering for notables from political, government, and business circles at the KBIZ building in Yeouido, Seoul, on Jan. 5.
Among those on hand at the event were Prime Minister Kim Boo-kyum, MSS Minister Kwon Chil-seung, Minister Ahn Kyung-duk of the Ministry of Employment and Labor, presidential candidates, Chairman Sohn Kyung-shik of the Korea Enterprises Federation (KEF) and Chairman Moon Sung-hyun of the Economic, Social and Labor Council.
_2022 중소기업인신년인사회01.jpg)
_2022 중소기업인신년인사회02.jpg)
