Ministry of SMEs and Startups Forms Policy Advisory Group for Private Sector-Led Policy Development

Composition of 7 Divisions and 46 Advisory Members
Proposing Ministry of SMEs and Startups Policy Directions from a Private Perspective

Photo by Getty Images Bank

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Lee Young, hereinafter referred to as the Ministry) announced that it has formed the 'Ministry of SMEs and Startups Policy Advisory Group (hereinafter the Advisory Group)' to provide opinions on the Ministry's policies from a private sector perspective and held an appointment ceremony on the 18th.

The Advisory Group will provide in-depth support by suggesting policy directions from the private sector perspective and advising on current issues so that the Ministry can timely reflect the rapidly changing private sector situation in its policies and produce results that the public can directly experience.

The group is divided into seven sectors: SMEs, startups & ventures, small business owners, youth, digital & tech, public relations, and compliance monitoring. Forty-six experts with rich knowledge and experience from various fields such as companies, academia, and research institutes were appointed as advisory members. The term of the advisory members is one year, with the possibility of renewal.

Among the advisory members, Professor Oh Jong-hoon of KAIST Graduate School of Management and Information Media Management has experience founding 'Palo Alto Audio Design LLC' in the United States and is currently serving as CEO of Pulsar Technology, an audio-specialized semiconductor company. Based on his professional knowledge and business experience, he will provide opinions on digital transformation for SMEs and public institutions.

Lee Hye-min, CEO of Finda, is an entrepreneur with experience founding various companies such as Glossybox, Bebe & Co, and Noom Korea. She will leverage her startup experience to advise the government on startup and venture company policies. Jung Heung-woo, chairman of the Tongin Market Merchants Association, is expected to deliver vivid voices from the field regarding the management conditions of small business owners.

Lee Rang-ju, CEO of WeBox Branding, will advise on necessary matters for small business owners to adapt to the times as a 'customized visual merchandiser for small business owners.' Ahn Tae-gyu, secretary-general of the Hongdae Prosperity Association, is a young small business owner who moved from Daegu to Seoul and operates a clothing company in Hongdae. He plans to contribute to youth policies based on his experience.

At the appointment ceremony, the Ministry awarded appointment letters to the advisory members and subsequently held discussions on future sector operations with the advisory members and the Ministry's responsible bureau and division chiefs. Minister Lee Young said, "The current government aims to reduce government committees that operate formally, but the Ministry of SMEs and Startups needs to operate a private-sector-centered policy advisory group to timely reflect the dynamically changing market situation in policies." He added, "We will connect a hotline between the policy advisory group and policy departments to continuously incorporate field feedback on SME policies, and as the Minister of SMEs and Startups, I will do my best to ensure that SMEs, startups & ventures, and small business owners become the core agents of economic innovation in our country."

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