Chairman Kim Hak-do: "We Will Lower the Threshold for Jungjin Gong"

Kim Hak-do, Chairman of the Korea SMEs and Startups Agency

[Asia Economy Reporter Kim Cheol-hyun] "There are many things to innovate. From the perspective of small and medium-sized enterprises (SMEs) as consumers, the threshold can be considered high. We will strive to lower it." Kim Hak-do, the newly appointed Chairman of the Small and Medium Business Corporation (hereinafter referred to as SBC), stated this on the 28th.

On the same day, Chairman Kim met with reporters and said, "SBC has all the tools to support SMEs, but it is true that they have not been connected until now," adding, "We are planning to reorganize so that they can be connected step-by-step and by function." SBC is a quasi-governmental organization managing funds established to efficiently promote projects for the development of SMEs, operating a startup and development fund for small and medium ventures worth about 19 trillion won. This year, it is the representative institution supporting SMEs, executing policy funds worth 5.69 trillion won.

Chairman Kim emphasized, "There are many opportunities to collaborate with related organizations," and added, "We will play a role in helping SMEs grow to the next level. We want to discover and nurture companies with technological capabilities and potential so that they can grow into unicorns and become global companies."

On the same day, Chairman Kim also expressed his determination for SBC to play a role in overcoming the crisis caused by the spread of the novel coronavirus infection (COVID-19). He said, "SBC is an institution that comprehensively supports SMEs and has played a significant role during crises," adding, "Especially due to COVID-19, SMEs are experiencing unprecedented difficulties. We will support companies affected by COVID-19 and subsequently develop programs that enable SMEs to achieve innovative growth and create jobs during the restructuring of new industrial structures in the post-COVID era."

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