100 Days in Office: President Intaeyeon Vows to Announce Measurement of Small Businesses' Ecological Value Within the Year

Onnuri Gift Certificate Discount Rate to Rise to 10% During Special Periods
Credit Vulnerable Fund Expanded to 60 Billion Won

Marking his 100th day in office, Intaeyeon, President of the Small Enterprise and Market Service, has identified the "measurement of the social and ecological value of small business owners" as a key future priority. Rather than viewing small business owners solely as economic actors, he aims to recognize them as pillars of local communities and culture, and plans to announce an assessment of their social added value within the year.

Intaeyeon, President of the Small Enterprise and Market Service, is speaking at the '100-day Anniversary Inauguration Press Conference' held on the 20th at the Korea Federation of Small and Medium Business in Yeongdeungpo-gu, Seoul. SEMS

At the '100-Day Inauguration Commemorative Press Conference' held at the Korea Federation of SMEs in Yeongdeungpo-gu, Seoul, on the 20th, President Intaeyeon stated, "While I oversaw policy broadly during my four years as Secretary for Small Business Affairs in the Moon Jae-in administration, actually managing operations on the ground has given me a different perspective." He emphasized, "The greatest realization has been the urgent need to fundamentally change the framework for how society perceives small business owners."

He added, "If we fail to accurately measure the social and ecological value of small business owners, policies and funding will inevitably be fragmented." He stressed, "We must evaluate their roles comprehensively, including as safety nets and community hubs within local society, and as holders of cultural assets."

Currently, SEMAS is conducting research in collaboration with academia and other partners to objectively assess the social value of small business owners and traditional markets. President Intaeyeon recently introduced the new slogan, "The value of small businesses, created together with SEMAS," as he accelerates related initiatives.

He also outlined his field-oriented approach since taking office. Over the past 100 days, President Intaeyeon has visited traditional markets and neighborhood commercial districts nationwide, holding approximately 40 on-site meetings. In April, he launched "Sotongmaru," a communication council comprising small business associations, academics, and experts, to strengthen channels for gathering feedback from the field.

One notable outcome of these efforts is the "Neighborhood Supermarket Exclusive Good Soju," which sold out 5 million bottles within just a month and a half of its launch. This product, designed to enhance the competitiveness of local supermarkets, is cited as a leading example of field-driven policy.

Intaeyeon, President of the Small Enterprise and Market Service, is speaking at the '100-day Inauguration Press Conference' held on the 20th at the Korea Federation of SMEs in Yeongdeungpo-gu, Seoul. SEMS

He also unveiled the main tasks to be pursued going forward. SEMAS plans to identify promising commercial districts that reflect local characteristics and stimulate consumption by increasing the digital Onnuri Gift Certificate discount rate from 7% during regular periods to 10% during holidays and special times. Additionally, SEMAS will establish a support system that progresses from "Startup for All (preliminary phase) → Local Enterprise Development (early stage) → Strong Small Business Owners (growth) → Local Startup Town (infrastructure)," thereby strengthening the local startup ecosystem.

Financial support for small business owners with mid- to low-credit ratings will also be expanded. The budget for "Credit Vulnerable Funds," a policy fund for those with mid- to low-credit, will be increased by 10 billion won from the previous year to 60 billion won. A new evaluation system reflecting creditworthiness and previous support history will be introduced to prioritize support for small business owners with higher needs.

Furthermore, management stabilization vouchers will be provided to 2.3 million small businesses facing difficulties, and the support limit for store demolition costs for closed small businesses will be raised to a maximum of 6 million won. AI-based education for small business owners will be expanded, and a tailored policy guidance service will be implemented using the big data platform "Small Business 365."

President Intaeyeon stated, "Small business owners are more than just economic actors running stores; they are vital to sustaining local communities and neighborhood economies. I will seek answers in the field and prove this through tangible policy outcomes."

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