Medium-Sized Enterprise Sector: "To Enhance the Substance of the Revised Medium-Sized Enterprise Act, Industry-Academia-Government Cooperation Must Be Strengthened"

Lee Hojun, Executive Vice President of the Korea Federation of Medium-Sized Enterprises,
Emphasizes Key Points at the 2025 Joint Autumn Academic Conference of the Korea Association of Medium-Sized Enterprises

The medium-sized enterprise sector has voiced the opinion that in order to enhance the effectiveness of the "Medium-Sized Enterprise Act," which serves as the legal foundation for fostering medium-sized enterprises, it is essential to strengthen collaboration among industry, academia, and government, linking practical realities, academic theory, and policy improvements.

Lee Hojun, Executive Vice President of the Korea Federation of Medium-Sized Enterprises, stated this at the "2025 Joint Academic Conference Commemorating the Second Anniversary of the Institutionalization of the Medium-Sized Enterprise Act," held at the FKI Tower Conference Center on the 17th. He emphasized, "In-depth theoretical analysis by academia that reflects concrete needs from the field, along with strong government initiative as the main driver of policy implementation, are key conditions for enhancing the substance of the upcoming revision of the Medium-Sized Enterprise Act."

Gwak Kwanhoon, President of the Korea Association of Medium Enterprises (fourth from the left in the front row), and Park Yangkyun, Head of Policy at the Korea Federation of Medium Enterprises (second from the left in the front row), along with other attendees, are posing for a commemorative photo. Korea Federation of Medium Enterprises

Lee added, "Despite the pivotal role of medium-sized enterprises as the 'backbone' of the Korean economy, research on laws, systems, and policies related to medium-sized enterprises remains severely lacking." He continued, "To provide effective guidelines for new growth strategies suited to the changing economic and industrial environment, it is necessary to offer various incentives, such as expanding government research projects, in order to thoroughly document and analyze the unique growth trajectories of medium-sized enterprises."

He further noted, "Since the implementation of the Medium-Sized Enterprise Act in 2014, the number of medium-sized enterprises has increased from 3,846 in 2013 to 5,868 in 2023. Employment has risen from 1,161,000 to 1,704,000, and exports have grown from 87.7 billion dollars to 118.2 billion dollars. However, many medium-sized enterprises still face a support gap in areas such as taxation and finance." He added, "To build a virtuous corporate ecosystem as stipulated in the Medium-Sized Enterprise Act, and to create an economic and social environment where medium-sized enterprises can grow into specialized companies with global competitiveness, industry, academia, and government must establish a more closely coordinated communication system."

At the academic conference, held under the theme "Growth and Legal Issues of Medium-Sized Enterprises," academic experts presented and discussed the current status and challenges of the Medium-Sized Enterprise Act, as well as its limitations and possible improvements. Gwak Kwanhoon, President of the Korea Association of Medium-Sized Enterprises, stated, "We will do our utmost not only to revise the Medium-Sized Enterprise Act, but also to promote a wide range of research that supports the growth of medium-sized enterprises and the development of the Korean economy."

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