[Smart Korea 3-Person Roundtable] What is the 'Respected Entrepreneur' System?

Selected as Exemplary Small and Medium Entrepreneurs of 36 People Since 2016
Additional Points Benefits for Ministry of SMEs and Startups Policy Support Projects
Applications Accepted Until the 20th of This Month

Jo Young-tak, CEO of Hunet, Park Young-sun, Minister of SMEs and Startups, and Lee Rae-cheol, CEO of SQ Engineering (from left), attended a special roundtable discussion held on the 8th at the Seoul Video Conference Room of the Ministry of SMEs and Startups in Dongduk Building, Jongno-gu, Seoul, sharing their views on the digital economy, Smart Korea, and the creation of new jobs.
/Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Kim Daeseop] Since 2016, the Ministry of SMEs and Startups has been selecting 'Respected Entrepreneurs' annually. So far, 36 entrepreneurs have been selected, and they have devoted efforts to practicing people-centered corporate management where companies and workers grow together, such as sharing performance and nurturing talent. They are exemplary small and medium-sized entrepreneurs who contribute to the national economy by creating good jobs socially.

This system was created to discover and promote exemplary small and medium-sized entrepreneurs who grow together with workers and practice people-centered corporate management, aiming to spread a culture of performance sharing and win-win cooperation.

When selected as a Respected Entrepreneur, additional points are awarded when participating in about 60 policy support projects of the Ministry of SMEs and Startups. These include 20 points in the SME job evaluation, eligibility for applying for job creation promotion funds from the Small and Medium Business Corporation’s policy funds, and additional points when applying for military service designated companies. Corporate tax and earned income tax on performance bonuses can also be deducted or reduced by 10% and 50%, respectively.

The Ministry of SMEs and Startups provides the Minister’s Commendation, trophies, and plaques to enhance pride, and excellent cases of Respected Entrepreneurs are also produced and broadcast on TV.

The selection criteria for Respected Entrepreneurs are ▲ entrepreneurs who possess and practice a people-centered corporate management philosophy that grows together with workers ▲ entrepreneurs who share corporate management performance with workers (performance sharing system) ▲ entrepreneurs who hire excellent personnel with professional knowledge and skills such as technical ability and R&D capabilities or nurture talent through investment in education and training ▲ entrepreneurs who contribute to the national economy by creating excellent management performance and good jobs.

Respected Entrepreneurs are finally selected through recommendation and application, document and on-site evaluation, and presentation evaluation. This year’s application period was from the 27th of last month to the 20th of this month.

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