May SME Grand Festival... Series of Events for 'Economic Revitalization'

[Asia Economy Reporter Kim Daeseop] The biggest festival for small and medium-sized enterprises (SMEs), 'SME Week,' will be held from the 11th to the 15th across 17 cities and provinces nationwide.

This year marks the 32nd SME Week, with the slogan "A Brighter Tomorrow for SMEs, a Happy Future for Korea," featuring a total of 43 events.

This SME Week is hosted by 16 SME organizations and organized by 17 related SME institutions. It is supported by 10 central administrative agencies and 15 metropolitan local governments.

Considering the social atmosphere due to the novel coronavirus infection (COVID-19), large-scale crowded events and promotional events will be minimized, and only key events aimed at overcoming SME crises and revitalizing the regional economy will be held.

Looking at the main events, the opening ceremony on the 11th will be held at the Korea Federation of SMEs in Yeouido, Seoul, where the "Launch Ceremony of the Large and Small Business Supply Price Adjustment Committee" will take place.

On the 13th, the forum titled "SME Cooperatives, the Power of Connection Among SMEs" will be held. Discussions will cover recognition of SME cooperative members' status, experts' opinions on tax support and burden improvement plans for SME cooperatives, and ways to link SME cooperatives with local communities.

Additionally, on the 14th, a discussion on overcoming the SME crisis and sustainable growth will be held. Amid the COVID-19 situation causing a global economic crisis and putting the Korean economy at risk, experts from various fields will gather to devise effective measures and seek mid- to long-term policy alternatives to overcome the crisis.

The Korea Federation of SMEs and other SME organizations and support institutions have voluntarily designated the third week of May as 'SME Week' annually since 1989. Since July 2011, it has been codified under Article 26 of the Framework Act on Small and Medium Enterprises and Article 17 of its Enforcement Decree, operating as a statutory week.

Kim Gi-moon, Chairman of the Korea Federation of SMEs, said, "The 32nd SME Week is a festival to boost the pride of SMEs and improve public awareness," and added, "We ask for the interest of all citizens in the SME Week events aimed at improving awareness of SMEs."

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