41st Anniversary of Jungjin Gong “Collaborative and Communicative Organization Structure”

[Asia Economy Reporter Moon Hyewon] The Small and Medium Business Corporation (SBC) announced on its 41st anniversary that it will "establish an organization that collaborates and communicates."

On the 30th, Acting Chairman Jo Jeong-kwon held the 41st anniversary ceremony at the main auditorium on the first floor of the SBC headquarters in Jinju, Gyeongnam, stating, "For the successful execution of SBC’s projects and continuous growth, 'performance-centered,' 'strengthening sourcing and expertise,' and 'forming an organization that collaborates and communicates' are of utmost importance," adding, "Based on this, we will develop SBC towards a new 40 years."

SBC was established on January 30, 1979, to efficiently promote small and medium enterprise development projects, and for 41 years has successfully fulfilled its founding purpose of contributing to the national economy through the promotion of SMEs. At the time of establishment, it had 199 staff members and assets worth 26.1 billion KRW; currently, it has 1,347 staff members and assets totaling 17.57 trillion KRW, representing a 6.7-fold increase in staff and a 673-fold increase in assets.

On the ground, SBC has focused support on high-risk areas where private sector participation is difficult, such as ▲policy funds ▲export marketing ▲human resource development ▲startup and technology support, thereby complementing market failures and leading the market.

Additionally, during the IMF foreign exchange crisis, SBC successfully implemented the New Economy Five-Year Plan and shifted the policy fund support method to direct lending. During the global financial crisis, it expanded its business scope to include youth startups, a blind spot in SME support, in addition to continuing policy fund support.

Especially last year, marking its 40th anniversary, SBC contributed to the government’s national philosophy of innovative growth, activation of a fair economy, and job creation by expanding the Youth Startup Academy to 17 nationwide locations and opening KSC (Global Innovation Growth Centers) in Seattle and New Delhi, thereby strengthening functions for nurturing startups and global unicorn companies.

This content was produced with the assistance of AI translation services.