Minister Seongsook Han: "Supporting the Relaunch of At-Risk Companies"... Policy Roundtable for SME Relaunch

Discussing Support Strategies for Relaunching Struggling SMEs with Experts

Pursuing Policy Frameworks for Business Stabilization and Sustainable Relaunch

The Ministry of SMEs and Startups announced that it held a "Policy Meeting for the Rejuvenation of Small and Medium Enterprises" on the 14th in Jongno-gu, Seoul.

The Ministry is promoting SME policies with a core focus on the entire business lifecycle: startup, growth, and re-challenge. In particular, to support re-challenges, the Ministry provides assistance for startup relaunching, SME restructuring, business conversion, and the Hope Return Package for small business owners.

This meeting was arranged to diagnose the current management environment and situation faced by struggling SMEs under this policy stance, and to discuss policy directions so that SMEs with growth potential can have renewed opportunities for growth.

Minister Sung-Sook Han of the Ministry of SMEs and Startups is delivering a welcoming speech at the "Policy Meeting for the Reboot of Small and Medium Enterprises" held on the 14th at Grape Lounge, Centropolis Branch in Jongno-gu, Seoul. Ministry of SMEs and Startups

Recently, SMEs have been confronted with major industrial transitions such as AI Transformation (AX) and carbon neutrality, as well as changes in both domestic and global economic environments, including exchange rate and price increases. At the meeting, active discussions were held based on analysis of the recent economic environment, the crisis situation facing SMEs, and past government policies.

First, the Ministry shared the need for SME crisis response and the establishment of a SME policy framework, which had been discussed during two previous "Roundtables for the Rejuvenation of Small and Medium Enterprises." Experts emphasized that SME policies should focus not on survival support, but on restoring productivity and competitiveness.

Participants agreed on the need for the government to identify and support companies with growth potential among those experiencing difficulties, and discussed ways to strengthen the government’s ability to select such companies in order to enhance the effectiveness of support. They also exchanged views on policy directions that would allow for proactive identification and tailored support to prevent crises from deepening in this rapidly changing management environment.

Minister Han Seongsuk of the Ministry of SMEs and Startups stated, "As the crises faced by companies become more severe and diversified, and as the policy environment rapidly changes, there is a need to shift the paradigm of support policies. We will implement policies to ensure that companies showing signs of crisis can quickly stabilize their management and, through rejuvenation, regain their competitiveness."

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