Minister Oh Young-joo's Inaugural Statement at the Ministry of SMEs and Startups: "Urgent Need for Policies to Stabilize Management of Small Business Owners and Self-Employed"

President Yoon Seok-yeol's Appointment Approved on the 29th
New Minister Oh Young-joo Begins Term
"Feeling the Heavy Responsibility Together"

Oh Young-joo, the newly appointed Minister of SMEs and Startups, stated on the 29th, "We will promptly implement policies to stabilize the management of small business owners and self-employed individuals, which is an urgent issue."

Minister Oh, appointed on this day, said through the Ministry of SMEs and Startups' Facebook account, "During a challenging period for the domestic and international environment surrounding our economy, I am grateful and feel a heavy responsibility for being given the precious opportunity to represent 7.7 million small and medium enterprises (SMEs), ventures, startups, and small business owners, who are the backbone and root of our economy, and to dedicate myself to the development of our economy."

Minister Oh Young-joo of the Ministry of SMEs and Startups (Photo by Ministry of SMEs and Startups)

He emphasized, "Our economy is currently facing a critical challenge to both restore the warmth of the livelihood economy and leap forward as a global powerhouse. SMEs, venture companies, and small business owners stand at the forefront of various challenges. This is a time when the capabilities and responsibilities of the Ministry of SMEs and Startups are more demanded than ever."

He added, "I will always adhere to the principle that 'the answer lies in the field' and actively communicate with SMEs, venture companies, and small business owners to respond with policies that the field desires."

Minister Oh promised to establish a support system that enables SMEs and venture companies to become the future driving force of the economy by innovating productivity and proactively responding to global environmental changes, while simultaneously promoting policies to stabilize the management of small business owners and self-employed individuals.

He continued, "The problems faced by 7.7 million SMEs, venture companies, and small business owners cannot be singular," and said, "Together with the Ministry of SMEs and Startups staff, I will strive to provide answers to various problems in a more effective and efficient manner."

He concluded, "Through the success and growth of small business owners and SMEs and venture companies, I want to dedicate myself, though modestly, to ensuring a bright future for the Republic of Korea. I ask for your continued support."

Earlier, President Yoon Suk-yeol appointed Minister Oh as the second Minister of SMEs and Startups under the Yoon administration on the morning of the same day. Minister Oh officially began his term as the Minister of SMEs and Startups from this day.

Minister Oh entered the Ministry of Foreign Affairs (now the Ministry of Foreign Affairs) in 1988 after passing the 22nd Foreign Service Examination and served as a diplomat for 35 years at the Ministry of Foreign Affairs.

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