Minister Hansung Sook: "We Will Establish a Blueprint for Small Business Growth"

First Relay Roundtable Held on the Theme of Small Business Growth

On November 20, the Ministry of SMEs and Startups announced that it held the first relay roundtable on the theme of "Small Business Growth" at C-Square in Gangnam-gu, Seoul. This roundtable follows the previous series of relay meetings held from July to October under the theme of "Recovery and Stability for Small Businesses," and was organized to establish future policy directions focused on the growth of small businesses.

The event featured panel discussions with the presidents of the Korea Federation of Micro Enterprises and the Urban Micro Enterprise Association, as well as experts in digital, AI, and local commercial districts, young merchants, and representatives from glocal commercial district creation teams. In addition, about 30 general small business owners interested in growth also participated.

Hansung Sook, Minister of SMEs and Startups

First, the Ministry of SMEs and Startups explained its policy direction for small business growth. Afterwards, Lee Jinguk, Senior Research Fellow at KDI, delivered a presentation on "Building a Virtuous Cycle Structure for Small Business Growth." He reviewed the current status and economic significance of small businesses, and addressed the structural challenges faced by the industry, such as oversaturation, polarization, and declining productivity, as well as strategies for establishing a virtuous cycle for future growth.

A panel discussion was also held on the topic of "Policy Directions for Small Business Growth." Professor Kim Jiyeong emphasized the necessity of a continuous support system covering education, adoption, utilization, and performance management for the digital and AI transformation of small businesses. Professor Ryu Taechang shared his views on the importance of utilizing commercial district data to drive growth.

Starting with this roundtable, the Ministry of SMEs and Startups plans to sequentially hold additional relay roundtables on a variety of topics, including digital and AI transformation, youth, local and global markets, regional commercial districts, and micro enterprises, in order to explore policy directions for small business growth. Hansung Sook, Minister of SMEs and Startups, stated, "While the previous ten roundtables focused on overcoming immediate crises, it is now time to deliver a message of hope for the sustainable growth of small businesses." She added, "Through the upcoming relay roundtables, we will establish a blueprint for small business growth."

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