100 Days in Office: Kwon Chil-seung, Minister of SMEs and Startups... "We Will Deliver Tangible Results Like the Second Venture Boom"

Minister Kwon Chil-seung's 100-Day Inauguration Press Conference
Visiting Sites Every Two Days Since Inauguration...Committed to Resolving Issues Fully
Highlights Key Policies Including Second Venture Boom Expansion and Support Fund Plus

Kwon Chil-seung, Minister of SMEs and Startups, is giving an opening remark at the 100-day inauguration press conference held on the 27th at Maru180, Yeoksam-ro, Seoul. Photo by Ministry of SMEs and Startups

[Asia Economy Reporter Kim Heeyoon] Kwon Chil-seung, Minister of SMEs and Startups, emphasized the promotion of policies desired by the SME field and the creation of tangible results felt by the public. This is interpreted as expressing his determination to focus on the recently highlighted second venture boom and the rapid business recovery of small merchants.

At a press conference marking his 100th day in office held on the 27th at Maru180 in Yeoksam-dong, Gangnam-gu, Seoul, Minister Kwon stated, “The Ministry of SMEs and Startups will concentrate on stabilizing the livelihoods of small merchants and innovating SMEs and startups. First, we will prioritize policies that the field desires, results that the public can feel, and innovations that prepare for the future.”

He continued, “Since my inauguration, I have visited SMEs and startups and met with merchants almost every other day. These visits were not just meetings and listening sessions but actions taken to immediately resolve the difficulties faced by companies.”

Based on these field visits by Minister Kwon, the Ministry added that achievements have been made such as ▲amending laws related to regulatory free zone demonstration projects ▲establishing the K-Bio Lab Hub ▲promoting smart factories centered on KAMP ▲supporting technology transfer startups in materials, parts, and equipment through partnerships with the Agency for Defense Development ▲and promoting ESG management in SMEs through socially responsible companies.

Minister Kwon said, “We have done our best to stabilize the management of small merchants affected by COVID-19 through the provision of New Hope Funds, Support Funds, and Support Funds Plus. We will establish a loss compensation system with the cooperation of the National Assembly and introduce inclusive finance systems such as low-interest long-term loans to alleviate management difficulties caused by business suspension and restrictions.”

He also mentioned his focus on startups, new industries, and smart factories. Minister Kwon emphasized, “Since the launch of the Ministry of SMEs and Startups, various achievements have been made in startups, new industries, smart factories, and technology development, and we will create results that the public can feel. We will also take responsibility and provide continuous support for long-term projects such as the remote monitoring project underway in Gangwon Province and the promotion of the K-Bio Lab Hub to nurture bio unicorn companies.”

He expressed his determination to realize various policy tasks. Minister Kwon said, “In June, we plan to support technology transfer and startups in the materials, parts, and equipment sector for SMEs and startups in cooperation with the Agency for Defense Development. Additionally, since a change in awareness is necessary for the introduction of ESG management in SMEs, we will revise laws and systems for business adjustment, transformation, and structural improvement.”

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