Mid-sized Companies to Invest 160 Trillion Won Over 5 Years... Creating 300,000 Jobs Annually

'The 8th Mid-sized Businesspersons' Day Ceremony' Held

On September 19, citizens visiting the '2022 World Class Job Festival,' a specialized job fair for small and medium-sized enterprises hosted by the Ministry of Trade, Industry and Energy and the Ministry of SMEs and Startups at COEX in Gangnam-gu, Seoul, are looking for jobs. / Photo by Mun Ho-nam munonam@

[Asia Economy Sejong=Reporter Lee Jun-hyung] The mid-sized enterprise sector has announced plans to invest more than 160 trillion won from next year through 2027, creating 300,000 jobs annually. The government plans to strengthen policy support to back mid-sized enterprise investments.

On the morning of the 7th, the Ministry of Trade, Industry and Energy held the '8th Mid-sized Enterprise Day Ceremony' at The Plaza Hotel in Seoul in collaboration with the Korea Federation of Mid-sized Enterprises. Mid-sized Enterprise Day is a representative annual event of the mid-sized enterprise sector held since the enactment of the 'Special Act on Mid-sized Enterprises' in 2014. About 200 people attended the ceremony, including Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy and Choi Jin-sik, chairman of the Korea Federation of Mid-sized Enterprises.

The mid-sized enterprise sector announced the 'Three Major Innovation Summit Declaration' on the day. The core of the declaration is to invest more than 160 trillion won over five years from next year through 2027 and create 300,000 new jobs annually. The declaration also includes commitments to continuously innovate to leap into a global company, actively challenge new industries, and lead future industries. Chairman Choi said at the ceremony, "Enterprises are the driving force of economic growth and a key source of job supply," adding, "The government's declaration of private-led growth and bold regulatory innovation efforts will enhance corporate vitality and create a breakthrough for growth."

The government plans to activate mid-sized enterprise investments through policy support. A Ministry of Trade, Industry and Energy official said, "It is very encouraging that the mid-sized enterprise sector has declared to continuously increase investments despite the economic crisis," and added, "The government will strengthen policy support to back the innovation and investment efforts of the mid-sized enterprise sector."

At the ceremony, awards were also presented to meritorious contributors in the mid-sized enterprise sector. The Gold Tower Industrial Order was awarded to Lee Byung-gu, chairman of Nepes, a system semiconductor company. Nepes was the first in the world to commercialize fan-out panel-level packaging (FOPLP) technology, a next-generation semiconductor packaging process. The Silver Tower Industrial Order was awarded to Gu Ja-gwan, chief representative employee of Samgu I&C, a service specialist company. Samgu I&C was recognized for contributing to job creation by employing all 41,000 employees as regular workers.

The Industrial Medal was awarded to Park Young-tae, CEO of Sebo Mobility, and Jang Ji-hwang, CEO of Megazone. Sebo Mobility has held the number one domestic market share in the ultra-small electric vehicle sector for two consecutive years from 2020 to last year. Megazone is Asia's largest cloud management company and has newly hired about 800 employees in the past year. Additionally, four individuals including Song Si-han, CEO of YG One, and Park Ki-hwan, CEO of Taekyung Chemical, received the Presidential Citation.

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