Park Young-sun "Best Efforts to Establish Protocol Economy and Build Subscription Economy for Small Business Owners"

Minister Park Young-sun of the Ministry of SMEs and Startups is delivering a video message at the New Year's meeting of the business community held via video conference on the afternoon of the 7th.
[Photo by Ministry of SMEs and Startups]

[Asia Economy Reporter Kim Jong-hwa] Park Young-sun, Minister of SMEs and Startups, stated on the 7th that establishing a protocol economy and building a subscription economy ecosystem in the small business sector are important projects for this year.

At the New Year's meeting of the business community, Minister Park said via video message, "We will revitalize the sluggish domestic economy with the largest-ever support budget for small businesses, including the support fund," and added, "We will also do our best to successfully promote the Korean New Deal."

He emphasized, "An important project this year is to establish the 'protocol economy,'" and said, "We will work to resolve the monopolization and polarization of the platform economy and to establish a fair economic ecosystem where everyone prospers together in our society."

The protocol economy is based on the spirit of solidarity, 'I exist because you exist,' and instead of platforms led by intermediaries who hold information through agreed-upon rules, or 'protocols,' by all participating companies, it enables individual economic agents to act autonomously and independently.

In particular, Minister Park stressed the necessity of building a subscription economy ecosystem for small business owners. He promised, "Just like subscribing to milk or newspapers, by actively promoting a 'subscription economy' where small business products are subscribed to, fixed income and customers can be secured, providing new opportunities for small business owners."

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