Minister Oh Young-joo "Building a Growth Ladder from Startups to Business Succession"

On-site Inspection of Livelihood Issues at Small and Medium Manufacturing Enterprises

The Ministry of SMEs and Startups announced that Minister Oh Young-joo visited Sincheon STS and Prontec, located in the Siheung Industrial Complex in Gyeonggi Province, on the 5th to listen to the difficulties faced on site.

Sincheon STS is a stainless steel pipe woven tube manufacturing company established in 2019. The company’s CEO, Hong Ye-ji, in her early 20s, founded a 'ppuri company' utilizing foundational technologies used across manufacturing such as casting, mold, welding, and heat treatment. Minister Oh said, "Youth startup companies are the core that will lead the future of our economy, and I applaud the courage to challenge the difficult 'ppuri company' as a young person." "We will prioritize expanding financial safety nets such as increasing policy funds for SMEs and small business owners and devote our policy capabilities accordingly."

Oh Young-joo, Minister of SMEs and Startups

Following this, Minister Oh visited Prontec, a company that introduced a smart factory located nearby. Prontec has been engaged in automobile parts manufacturing since 1978, but faced issues such as reduced delivery prices and deteriorating profitability of automobile parts. The second-generation management succeeded the family business in 2013. Since then, difficulties have been overcome through the smart factory introduced in 2015.

On this day, Minister Oh toured the smart factory site and listened to the company's difficulties in operating the smart factory more efficiently in manufacturing sites during a meeting with executives and employees. Minister Oh said, "We will build a solid growth ladder so that the company can grow into a small but strong global enterprise after startup, and provide timely and customized support for policies needed on site."

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