Minister Oh Young-joo: "We Will Actively Support Women's Enterprises in Global Expansion"

Meeting with Women Entrepreneurs on the 10th to Hear Opinions
"Globalization Strategy Is Not an Option but a Necessity"

Oh Young-joo, Minister of SMEs and Startups, emphasized support for the global expansion of women-owned businesses on the 10th.

Minister Oh Young-joo of the Ministry of SMEs and Startups is delivering a greeting at the National Assembly plenary session on the 9th.
Photo by Yonhap News Agency

On the same day, Minister Oh met with over 20 women entrepreneurs, including Lee Jeong-han, president of the Korea Women Entrepreneurs Association, at the Korea Women Entrepreneurs Association in Gangnam, Seoul, stating, “We will actively support globalization through preferential treatment for women-owned businesses.”

This meeting was arranged to hear the opinions of women entrepreneurs in accordance with Minister Oh’s belief that “the answer lies in the field.”

A female business owner engaged in exports said, “There are 3.14 million women-owned businesses in our country, accounting for more than 40.7% of all businesses, achieving quantitative growth, but export volume is only in the 10% range,” urging the Ministry of SMEs and Startups to actively support strengthening the global capabilities of women-owned businesses.

In response, Minister Oh said, “Although the number of women export companies is not large, once they start exporting, the average export amount of women-owned businesses is larger compared to all export companies, so a globalization strategy is not a choice but a necessity.”

A female startup founder suggested, “If younger women entrepreneurs learn the know-how of senior women entrepreneurs, they can grow further,” and added, “Nurturing future generations is necessary.”

The Ministry of SMEs and Startups operates a Future Women Entrepreneurs Development Project, where senior women entrepreneurs help female high school and university students grow into entrepreneurs. The number of participants, which was 480 last year, will be expanded to 1,200 this year.

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