Lee Myung-bak "Returned from an Off-the-Beaten-Path Trip"... Emphasizes 'Win-Win Growth' in Front of SME Leaders

Keynote Speech at the '2023 Leaders Forum'
Introducing the Process of Overcoming the 2008 Financial Crisis and More

Former President Lee Myung-bak is delivering the keynote speech at the '2023 Leaders Forum' held on the 12th at Lotte Hotel Jeju.

"I have been unable to see you all for years due to my travels to remote areas. After returning from a long journey at the end of last year, this is my first time meeting small and medium-sized enterprise (SME) owners all in one place."

These were the opening words of former President Lee Myung-bak during his keynote speech at the largest SME event, the '2023 Leaders Forum,' held on the 12th at Lotte Hotel Jeju. Since his special pardon in December last year, this was Lee’s first public appearance at an economic-related event, and he maintained a bright expression throughout. Upon entering the venue, he shook hands individually with SME owners for about 10 minutes, receiving standing ovations here and there.

Former President Lee recounted how he overcame the global financial crisis that struck early in his presidency in 2008. He reflected, "Renowned international media such as the Financial Times and The Economist identified South Korea as the most vulnerable country during the global financial crisis," adding, "Because the government, our businesspeople, and public officials worked together, we were able to overcome the crisis well."

Throughout his keynote speech, Lee emphasized 'win-win growth' between large corporations and SMEs. He shared an anecdote from his presidency when he invited 15 heads of large corporations to the Blue House. He asked them if they had ever had a meal with the representatives of the SMEs they were currently doing business with, but no one answered. Later, one large corporation head told Lee that after having a meal with an SME representative who supplied to his company, he felt it was very good and expressed his gratitude. Lee said, "I believe this is win-win growth," and added, "Just as a rocket cannot be made by a large corporation alone, countless SMEs are involved in it."

Lee also shared the success story of the Microcredit program (unsecured low-interest microloans) that he promoted during his presidency. Microcredit, started in 2008, is South Korea’s first policy-based financial service for the underprivileged. Lee said, "An elderly woman selling hotteok on the streets of Jongno 5-ga borrowed 3 million won interest-free through Microcredit to repay her debts and expressed her gratitude," adding, "That woman also promised to provide free hotteok daily to two children without money as a way to repay the kindness." He continued, "What a great story this is," and encouraged, "I hope SME owners do not forget the hotteok grandmother’s story and think about what each of you can do."

Originally, Prime Minister Han Duck-soo was scheduled to deliver the keynote speech at this forum. It is understood that the change to former President Lee as the speaker just days before the forum was largely due to the will of Kim Ki-moon, Chairman of the Korea Federation of SMEs. Kim served as the 23rd and 24th chairman of the Federation from 2007 to 2015, was re-elected for a third term in 2019, and again for a fourth term this year. His tenure as the 23rd and 24th chairman overlapped with the Lee Myung-bak administration (February 2008 to February 2013). It is known that he built a close relationship with former President Lee during this period. In his opening remarks, Kim said, "Former President Lee met with SMEs more than anyone else during his presidency and provided significant policy support," adding, "Our SME owners still fondly remember those times and considered him the president they most wanted to meet."

When the government was launched, former President Lee first proposed the agenda of 'win-win growth.' In December 2010, he established the Win-Win Growth Committee and promoted policies for coexistence between large corporations and SMEs. The Win-Win Growth Committee is a private committee operating under the 'Act on the Promotion of Mutual Growth between Large Enterprises and SMEs,' which discusses issues such as unfair trade between large corporations and SMEs and derives agreements in the private sector. It continues to operate to this day. The long-awaited SME policy of linking payment for supplies, scheduled to be implemented on October 4, was first proposed as an election pledge by former President Lee in 2008.

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