Han Seong-sook "Will Help Small Business Recovery and Design Innovative Growth for SMEs"

[Financial News] Han Seong-sook, the newly appointed Minister of SMEs and Startups, stated in her inaugural speech on the 24th, "I will do my best to help the 'recovery and growth' of small businesses and design the 'real growth' of SMEs through innovative technologies such as digital and artificial intelligence (AI), and create an environment for it."
Minister Han expressed this sentiment at the inauguration ceremony held at the Ministry of SMEs and Startups building in Eojin-dong, Sejong City, saying, "It is truly an honor to be with you as the first Minister of SMEs and Startups in the newly starting Lee Jae-myung government."
Minister Han opened by saying, "Despite reports that over 1 million businesses closed last year and the news that Dangjin Market in Chungnam was submerged, my heart was heavy," and "I deeply recognized the grave responsibility of being accountable for the national economy and future."
Continuing, Minister Han pointed out the crisis faced by small businesses and SMEs due to domestic market contraction, global market uncertainty, and regional disparities, emphasizing, "We must once again turn this crisis into an opportunity and a turning point for growth."
As major policy initiatives, Minister Han proposed △establishing social and disaster safety nets for small businesses △digital transformation of SMEs △preparing measures for the 4 major venture nations △building a co-growth ecosystem △revitalizing regional economies.
First, regarding small business policies, Minister Han declared, "We will focus on establishing a recovery system for large-scale disasters, supporting employment insurance, and strengthening fire insurance." Along with this, she set major policy tasks such as extending repayment periods, reducing interest rates, alleviating fixed cost burdens, providing one-stop support for debt adjustment, closure, and employment linkage, and enhancing digital capabilities.
Minister Han also expressed her ambition to focus on creating a smart manufacturing innovation ecosystem so that SMEs can become the main players in the digital transformation. She promised, "Smart factories must now move beyond the 'introduction' stage to the 'internalization' stage," and "We will disseminate digital transformation of SMEs at various levels from basic to advanced, and expand to AI smart factories." To systematically support digital transformation, Minister Han plans to pursue the enactment of the 'Smart Manufacturing Industry Innovation Act.'
The plan is also to prepare a comprehensive strategy for advancing into the 4 major venture nations. Minister Han emphasized, "This year marks a significant year as our country celebrates 30 years of ventures and 20 years of the mother fund, and we will make it a year where a new venture startup boom arises," and "We must establish a robust startup ecosystem where innovative talents boldly challenge entrepreneurship and entrepreneurs can grow autonomously in regions." She particularly mentioned plans to expand the participation of private funds such as pension funds in the venture investment market and to redefine functions such as extending the duration of the mother fund.
To build a co-growth ecosystem, Minister Han announced the introduction of the Korean-style discovery system. She said, "We will eradicate technology theft from SMEs, firmly respond to unfair practices in subcontracting transactions, and support the swift and effective recovery of affected companies," and "We will supplement the delivery price linkage system to ensure that subcontracting SMEs with low bargaining power can secure fair transaction prices."
Additionally, referring to the Lee Jae-myung government's balanced development policy '5 Poles 3 Specials,' she added, "We will create regional innovation hubs and establish a cooperation base by connecting local universities, research institutions, SMEs, mid-sized companies, and innovative startups." The explanation is to strengthen regional support by expanding startup support infrastructure to regions and discovering specialized industries that match regional characteristics.
Han, the first female CEO of Naver and a first-generation venture entrepreneur and IT expert, stated, "I have been at the heart of the IT industry, cultivating Korea's digital innovation and platform ecosystem from startups to large corporations for over 30 years," and "The efforts of the Ministry of SMEs and Startups over the past 8 years, paved with initial passion and responsibility, were themselves a 'startup journey.' I want to open a new path of leap together."

stand@fnnews.com Seo Ji-yoon Reporter