Gyeonggi Credit Guarantee Foundation Holds 'Seminar' Based on Small Business White Paper

The Gyeonggi Credit Guarantee Foundation held the 'It-Seminar: Connecting Small Businesses to Success' on the 27th, based on the findings of the '2025 Gyeonggi-do Small Business White Paper.'

On this day, the foundation organized the seminar at the auditorium of its Suwon Gwanggyo headquarters, inviting experts from industry, academia, and the financial sector to enhance the effectiveness of policy responses based on the analysis results of the white paper.

The seminar was chaired by Gwanghee Kim, adjunct professor of economics at Korea University, with panelists including Sangbaek Lee, president of the Gyeonggi Province Small Business Association; Hyogeun Lee, CEO of Hanmoe Management Consulting; Huh Hoon, professor at the Department of Business Administration, Baekseok Arts University; and Hyejeong Cho, research fellow at the Korea Small Business Institute.

The seminar focused on discussing changes in the business environment and policy challenges for small businesses, centering on the key analysis results from the white paper.

The Gyeonggi Credit Guarantee Foundation plans to further advance its customized support system for small businesses by incorporating the opinions gathered from this seminar and the findings from the white paper, taking into account the unique characteristics of each industry and region.

Gyeonggi Credit Guarantee Foundation held a seminar for small business owners on the 27th. Participants are engaged in discussion. Provided by Gyeonggi Credit Guarantee Foundation.

In particular, the foundation aims to prioritize strengthening guarantee support throughout the business life cycle, including startup, growth, and crisis stages; expanding consulting functions to encompass credit management and overall business operations; reinforcing support for second-chance entrepreneurs and linking debt adjustment programs; and upgrading on-site business support systems.

Seokjung Si, Chairman of the Gyeonggi Credit Guarantee Foundation, stated, "This white paper is not just a collection of statistics, but a comprehensive report that combines voices from the field with extensive data to provide a multidimensional diagnosis of the realities faced by small businesses. Based on these insights, it is crucial to accurately identify structural issues and connect them to effective policies, which is why we organized this seminar."

Meanwhile, the foundation published the '2025 Gyeonggi-do Small Business White Paper' in March 2026. According to the white paper, the average sales of small businesses in Gyeonggi Province in 2024 decreased by 13.1% compared to the previous year, while operational loans for 2025 increased by 18.6%. This clearly indicates a trend of declining profitability and increasing financial burdens. The analysis also pointed to heightened business difficulties due to rising raw material costs, shrinking commercial districts, and intensified competition among businesses in the same industry. Additionally, some businesses were found to be preparing for reopening or making second attempts after closure, revealing a shift in business structures.

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