'Unconditionally Global' and 'Breaking Regulations' - Outline of SME Measures for the Next 3 Years Revealed

Announcement of the Comprehensive Plan for SME Promotion on the 11th
A statutory plan established every 3 years and a blueprint
Reflecting the philosophy of 'Unconditionally Global' and 'Breaking Regulations'

A blueprint has been drawn up that will shape policies for small and medium-sized enterprises (SMEs), ventures, startups, and small business owners over the next three years. This is the 'Comprehensive Plan for SME Development,' a statutory plan established every three years under the Framework Act on Small and Medium Enterprises. It is evaluated that the philosophy of 'unconditionally global' and 'breaking down regulations,' which Minister Lee Young of the Ministry of SMEs and Startups often emphasizes, is reflected throughout the plan.

On the 11th, the Ministry of SMEs and Startups announced that the 2023-2025 Comprehensive Plan for SME Development, centered on these contents, was passed through the Cabinet meeting. It consolidates the policies for SMEs, ventures, startups, and small business owners announced so far under a comprehensive vision. The core goals are achieving an economic contribution rate of 50+ for SMEs, creating a global expansion ecosystem for ventures and startups, and fostering entrepreneurial small business owners.

The SME '50+ Vision' aims to raise the share of exports and sales each to over 50% of the Korean economy. Currently, the direct and indirect export share is about 40%, with large corporations responsible for nearly the remaining 60%. To achieve this goal, the Ministry plans to ▲ reorganize the existing export Business Incubator (BI) into a Global Business Center (GBC), ▲ expand and reorganize 'KCON with Brand,' which combines K-pop performances and export fairs, and ▲ discover and support 'Unnamed Export Warriors' to encourage SMEs engaged in indirect exports. Additionally, the 'Global Strong SME+ Project' will support 1,000 strong SMEs with policy financing and export vouchers.

In the venture and startup sector, the focus is on creating Korean-style innovation clusters. The plan is to establish clusters that meet global standards for new product development in advanced fields and overseas expansion. These clusters will operate under a 'negative regulation' system, which permits everything except explicitly prohibited activities.

For example, in cooperation with Dassault Syst?mes, the first 3D Experience Lab in the life sciences field is planned to be established within the year. Dassault Syst?mes is the world’s number one company in 3D design and simulation, and the 3D Experience Lab is a startup acceleration program that provides 3D solutions to startups in design, engineering, and manufacturing fields. Furthermore, the plan includes expanding the global fund to approximately KRW 8.6 trillion and jointly fostering startups with global big tech companies such as Google.

In the small business sector, while continuing support for micro-merchants, the focus will be on nurturing entrepreneurial small business owners known as 'Raicons.' Raicon means a unicorn company that creates innovation locally. When private investment is made, policy funds of up to KRW 500 million will be provided. Alongside this, the plan includes identifying and improving 'solo regulations' and 'alleyway regulations' hidden in various places, and implementing a 'Regulation Forecast System' to help SMEs and small business owners easily understand key regulatory contents at the introduction stage.

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