Kwon Chil-seung Appointed as Minister of SMEs and Startups... "Will Focus on Recovery of Small Business Management"

Fostering Innovative Ventures and Startups as Leaders of a Leading Economy

[Image source=Yonhap News]

[Asia Economy Reporter Kim Heeyoon] Kwon Chilseung, Minister of SMEs and Startups, said in his inaugural speech on the 8th, "We will strive to stabilize the management of small business owners affected by COVID-19 and foster innovative ventures."

The Ministry of SMEs and Startups held an expanded executive meeting instead of an inauguration ceremony, considering the situation of the novel coronavirus infection (COVID-19).

During the expanded executive meeting, Minister Kwon emphasized, "We will work to provide practical and prompt assistance for the recovery of small business owners' management," adding, "To this end, we will actively consult with related ministries and the National Assembly."

He also stated, "We will ensure that traditional small and medium enterprises and small business owners firmly stand as agents of innovation," and added, "We will accelerate innovation in traditional small manufacturing enterprises and help small business owners become agents of innovation in digital traditional markets through the expansion of smart stores."

Furthermore, Minister Kwon said, "We will nurture innovative ventures and startups as key players in a leading economy," and "We will foster promising non-face-to-face SMEs and startups, expand venture investments such as the Smart Korea Fund, and increase the research and development budget for SMEs."

He also mentioned strengthening a win-win economy based on solidarity and cooperation. Minister Kwon stated, "We will raise the level of Korea's win-win economy by valuing solidarity and cooperation," and "We will further strengthen frameworks for solidarity and cooperation, such as funds for profit sharing and social solidarity."

Minister Kwon said, "During the preparation for the confirmation hearing, I emphasized a Ministry of SMEs and Startups that visits, empathizes, and communicates," and urged, "I hope to reduce the gap between policies and the field and incorporate the voices from the field into policies." He continued, "Always keep in mind that the customers of the Ministry of SMEs and Startups are small and medium enterprises and small business owners, and consider what causes inconvenience to them," and requested, "I hope all employees unite their efforts so that we can overcome the current difficulties together."

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