Ministry of SMEs and Startups Hosts 'Win-Win ON Fair' with Platforms and Small Businesses

Platform Companies Including Naver and Kakao Participate
Business Consultation Events Also Held

The Ministry of SMEs and Startups announced on December 11 that it will host the "Strong Small Business Win-Win ON (On) Fair" to discover competitive small business owners.

This year’s Win-Win ON Fair will be held for two days from December 11 to 12 at Dongdaemun Design Plaza (DDP) in Dongdaemun-gu, Seoul. As part of a public-private partnership project to discover strong small businesses with creative ideas and entrepreneurial spirit and help them grow into global companies, the event is joined by the Federation of Korean Industries, platform companies such as Naver, Kakao, Amazon, and Shopee, as well as the Small Enterprise and Market Service.

On the first day, December 11, the main opening event was the "K-Small Business Town Hall Meeting." The Ministry of SMEs and Startups, the Small Enterprise and Market Service, the Federation of Korean Industries, online platforms, and representatives of selected strong small businesses participated to discuss the roles and support strategies of the government, large corporations, and platform companies in building a growth ladder for small businesses.

In addition, a variety of events were held, including sales exhibitions and business consultations with Naver, Kakao, and Amazon involving strong small businesses (52 companies with offline booths), a performance sharing session for strong small businesses (online sellers and global track), special lectures by prominent figures, events, and performances.

The strong small business sales exhibition will also be held online for three weeks. In collaboration with Naver, Kakao, and Amazon, a special sales event will run from December 11 to 31, where products from strong small businesses can be purchased at discounted prices.

Both the online and offline sales exhibitions at this year’s Win-Win ON Fair will feature a wide range of strong small businesses, including Kirin Company, which produces caramel and noodles using seaweed fulvescens; Morning Farm, which makes squeezable blueberry processed products; Myler, which produces and sells blended teas selected by Michelin restaurants; and Yulart, which creates various lifestyle products using Korean folk paintings.

Changbum Kim, Vice Chairman of the Federation of Korean Industries, said, "Small businesses are the backbone of the national economy and the main drivers of future growth into mid-sized and large enterprises. The government and the business community must work together with a sense of responsibility to support them." He added, "As online-based sales are rapidly increasing, small businesses are facing burdens from platform fees and advertising costs, as well as difficulties in utilizing AI technology. The government and platform companies need to pool their wisdom to come up with practical solutions."

Byungkwon Lee, the Second Vice Minister of the Ministry of SMEs and Startups, emphasized, "Today’s event is a milestone for a win-win economy, where the government, large corporations, and platform companies together provide and support a growth ladder for small businesses with growth potential." He added, "We will spare no policy support to help small businesses, the backbone of our economy, leap forward as globally competitive 'K-Small Businesses.'"