Ministry of SMEs and Startups Launches Full-Scale Strategy for Globalization of SMEs

'24 Il "Jungsogieop Geullobeolhwa Jeongchaek Jeonmun-ga Gandamhoe" Gaechwi

On the 24th, the Ministry of SMEs and Startups announced that it held the 'SME Globalization Policy Experts Meeting' chaired by Minister Oh Young-joo at the Technology Guarantee Fund Seoul Western Regional Headquarters conference room.

Although SME exports, which had been declining in the first half of last year, turned to an upward trend from August, risks to SME business conditions remain due to the global economic slowdown and ongoing international conflicts.

For SMEs to overcome these challenges and grow to a higher level, it is necessary to expand beyond the domestic market into the global market, and government policy efforts are urgently required for this. The Ministry of SMEs and Startups is currently formulating a globalization strategy for SMEs under the premise that entering the global market is key to strengthening SME competitiveness.

The meeting included expert groups from various fields such as economic organizations, policy research institutes, law firms, and former ambassadors to derive policy directions for enhancing SME global competitiveness. Minister Oh discussed with the external expert group participating in the meeting topics including ▲the definition of SME global capabilities and the government's role ▲the need to reform existing export marketing-centered policies ▲strengthening SMEs' response capabilities to rapidly changing international situations ▲and ways to connect domestic export support systems operated by the government and local governments with overseas support systems centered on diplomatic missions.

Minister Oh said, "This meeting is the first occasion since my inauguration where expert groups from various fields have come together to discuss the SME globalization strategy," adding, "Based on the policy recommendations discussed at this meeting, we will review whether there are any overlooked areas in the government's existing SME globalization policies and actively reflect them in future announced policies."

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