[Asia Exclusive] 'Ministry of SMEs and Startups 2.0 Sejong Era' Takes on the Role of Venture Within the Government

Relocation of Government Office After 23 Years... Foreseeing Internal and External Changes
Inter-Ministerial Cooperation Becomes Much Easier, Policy Implementation Gains Momentum

Asia Exclusive_ Kwon Chil-seung, Minister of SMEs and Startups./Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Heeyoon] The Ministry of SMEs and Startups (MSS) has entered the Sejong era. Having launched as the Small and Medium Business Administration at the Government Gwacheon Complex in 1996 and settled in the Daejeon Government Complex in 1998, the MSS relocated to Sejong after 23 years and completed the move of all departments on the 15th. In its fifth year since being elevated to a ministry in 2017, the MSS plans to hold an official inauguration ceremony on the 26th. Minister Kwon Chil-seung declared "MSS 2.0" to mark the Sejong era. Minister Kwon emphasized, "As the name suggests, the Ministry of Small and Medium 'Venture' Enterprises is like a five-year-old venture company," adding, "As a venture within the government, we will fully play the role of an innovation icon."

With the enhanced role of ventures, the MSS has also attempted significant internal structural changes through its relocation to Sejong. It introduced open spaces not seen in existing government ministries, implementing spatial innovation similar to shared offices. The relocation of affiliated public institutions to improve work efficiency is also under discussion. Minister Kwon explained, "The relocation of MSS-affiliated public institutions currently being discussed must be considered comprehensively, taking into account each institution's opinions and the characteristics of policy targets," adding, "In particular, since this involves consultation with the Ministry of Land, Infrastructure and Transport, the Balanced National Development Committee, and is subject to Article 16 and Article 22 of the Special Act on Balanced National Development and Article 4 of the Innovation City Act, in-depth discussions must precede any decisions."

Previously, the Korea Institute of Startup & Entrepreneurship Development relocated from Daejeon to Sejong at the end of last year. The Korea Technology and Information Promotion Agency for SMEs also completed its move in May, and the Korea Credit Guarantee Fund has secured land for its relocation to Sejong next year. Additionally, the Small and Medium Business Ombudsman, responsible for addressing regulatory difficulties for SMEs and small businesses, is expected to move to Sejong as early as next month, steadily raising the possibility of Seoul-based MSS-affiliated institutions relocating to Sejong.

The MSS’s move to Sejong is expected to accelerate policies supporting small businesses and SMEs. Minister Kwon stated, "Support policies for small businesses amid the prolonged COVID-19 pandemic are sensitive to economic fluctuations, making the speed of policy implementation and timely response extremely important. Although continuous cooperation among related ministries was essential, the fact that the Ministry of Economy and Finance, Ministry of Trade, Industry and Energy, and Ministry of Science and ICT were all located in Sejong caused significant time and cost in consultations," adding, "Through the relocation to Sejong, we will effectively respond to inter-ministerial consultations and policy demands, ultimately striving to contribute to strengthening the competitiveness of SMEs, ventures, and small business owners."

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