Korea Federation of SMEs Awards 2 Million Won Prize for Excellence

Headquarters of the Korea Federation of Small and Medium Business

Headquarters of the Korea Federation of Small and Medium Business

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[Asia Economy Reporter Kim Daeseop] The Korea Federation of Small and Medium Business (KSMB) announced on the 14th that it held the award ceremony for the '1st Small and Medium Enterprise Statistical Data Utilization Policy Idea Contest.'


The award ceremony took place at the KSMB headquarters in Yeouido, Seoul. The grand prize was awarded to Kim Kyungsoo, a graduate student at Yonsei University, who proposed the 'Short-term and Efficient Collaboration Policy among Small and Medium Enterprises.' The policy included analyzing the 'weaknesses' of a company and the 'strengths' of partner companies by comparing management difficulties between companies and promoting collaboration accordingly.


This contest was hosted by the Ministry of SMEs and Startups and organized by the KSMB. It was designed to open SME survey statistical data (including the status survey, technology statistics survey, wage survey, and business outlook survey) to the public to discover creative policy ideas.


A total of 110 teams from various fields, including university (graduate) students and researchers, participated in the contest. Considering the feasibility of the theme, excellence in data analysis, originality, and data utilization, six teams (grand prize, excellence award, and encouragement award) were selected. The grand prize winner, who received the Minister of SMEs and Startups Award, was awarded a prize of 2 million KRW.



Kang Jiyong, head of the KSMB Survey and Statistics Department, said, "Through this contest, which was held for the first time this year, it seems that participants such as university (graduate) students had the opportunity to present innovative proposals." He added, "Next year, with the cooperation of the Ministry of SMEs and Startups, we plan to provide more statistical data and receive budget support to enhance the effectiveness of the contest."


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

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