Park Young-sun: "The Core Policy for the Second Half of the Year is Digitalization of Small Business Owners"

Minister of SMEs and Startups
Work Report to the National Assembly Industry, Trade, Energy, SMEs and Startups Committee

Park Young-sun, Minister of SMEs and Startups / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Kim Daeseop] "We will promote the digitalization of small businesses as a key policy in the second half of the year so that small business owners can quickly adapt to the new environment after COVID-19."

Park Young-sun, Minister of SMEs and Startups, said this during a business report at the Industry, Trade, and SMEs Committee meeting held at the National Assembly on the 29th, adding, "New methods of online and contactless sales such as live commerce, QR code sales, and smart displays have confirmed the potential for small business owners and self-employed individuals to transition to a digital economy."

On this day, the Ministry of SMEs and Startups reported major tasks and policy directions, including the leap to a leading economy in the post-COVID-19 era, to the Industry, Trade, and SMEs Committee following the opening of the 21st National Assembly. Minister Park stated, "Due to the prolonged COVID-19 pandemic and the resulting contraction in consumption, the business environment for SMEs and small business owners is more challenging than ever," and forecasted, "Consumer behavior is rapidly shifting towards contactless and online-centered forms, and the restructuring towards a digital economy will accelerate."

Minister Park emphasized that the Korean economy before and after COVID-19 will show different aspects in many ways. She said, "To leap into a leading economy suitable for the post-COVID-19 era, we will support corporate innovation and bold investment, realize the values of coexistence and mutual growth, and concentrate all policy capabilities to create a country where SMEs, large corporations, and small business owners all prosper together."

Minister Park plans to foster the contactless and online sectors as future new growth engines. She explained, "We will create an innovation ecosystem for contactless sector companies that leads from startup to growth and demand creation, enabling Korean ventures and startups to lead the global market. Through the annual work plan, we will further accelerate the implementation of the policy goal 'Smart Korea,' which is the great transition to a digital economy that we have already begun preparing for."

Minister Park also emphasized, "Unlike personal information, which has already been liberalized, we will secure sovereignty over manufacturing data and prepare future food sources necessary for the digital era."

Minister Park expressed her determination to accelerate the second venture boom. She said, "We will reorganize investment systems in a market-friendly manner and accelerate the second venture boom, where startup growth and entrepreneurial enthusiasm continue, to advance toward becoming one of the four major venture powerhouses. Innovative SMEs and venture companies will become the main force to create a digital powerhouse leading the world." She also stressed, "We will create an ecosystem where large and small businesses voluntarily cooperate and coexist, and we will firmly correct technology theft and unfair trade practices."

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