Korea Federation of SMEs Emphasizes 'Activation of SME Cooperative Joint Projects'... Holds Policy Research Forum

Prepared to Discuss Effective Policy Implementation Directions
Academia, Cooperatives, and Experts Gather for Discussion

The Korea Federation of Small and Medium Business (Kbiz) announced on the 17th that it held a policy research forum titled “Analysis of the Current Status of Joint Projects by Small and Medium Enterprise Cooperatives and Directions for Revitalization” at the Innovation Room of the Kbiz headquarters in Yeouido, Seoul.

Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, is delivering the opening speech at the 'Policy Paradigm Shift Forum for Small and Medium Enterprise Cooperatives' held on May 10, 2021, at the Korea Federation of Small and Medium Business in Yeouido, Yeongdeungpo-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

This forum was organized to gather opinions from field experts on ways to revitalize joint projects of small and medium enterprise cooperatives and to discuss effective policy implementation directions.

Researcher Eunha Kim of the Small and Medium Enterprise Cooperative Research Institute delivered a presentation titled “Analysis of the Current Status of Joint Projects by Small and Medium Enterprise Cooperatives and Directions for Revitalization.” Researcher Kim emphasized, “The average annual total revenue of SME cooperatives that conducted joint projects is 1.36 billion KRW, about twice as high as that of cooperatives that did not conduct such projects (640 million KRW). Joint projects are a means to provide SMEs with a competitive advantage by utilizing resources more effectively. Therefore, to revitalize cooperatives, incentives such as promoting the effects of joint projects to create demand, supporting professional personnel for project operation, and providing initial funding are necessary.”

Researcher Kim also stated, “Cooperatives have shown a desire for cooperative fund recommendations, professional personnel support, and specialized consulting for joint project development. While actively utilizing the recognition of SME status, cooperatives must respond to environmental changes by expanding participation in cooperatives to address regional extinction risks.”

Following this, discussions were held among academia, cooperative sectors, and experts. Participants included Professor Dongcheol Kwak of Hannam University, consultant Changseon Park of Joint Project SOS Support Group, Director Sunghwan Jeong of the Korea Furniture Industry Cooperative Federation, Director Hyungcheol Kim of the Korea Electronics Industry Cooperative, Business Manager Seunggil Yoo of the Korea Box Industry Cooperative, Professor Seungkwon Jang of Sungkonghoe University, and Director Jaegyo Seo of Our Social Economy Research Institute.

Yuisang Yoon, director of the Small and Medium Enterprise Cooperative Research Institute and host of the forum, said, “Support infrastructure for cooperatives must continue to be established, and improvements in laws and systems to revitalize joint projects should follow. I hope that the discussions from today’s forum will help in preparing the 4th Cooperative Revitalization Plan, which will begin next year.”

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