"SMEs Are the Future Conglomerates" — Chairman Ryujin Rallies Support for Small and Medium Enterprises

"For our country to advance, we need more outstanding small and medium-sized enterprises. The future of our economy lies with SMEs." On the 20th, Ryujin, Chairman of the Federation of Korean Industries (FKI), visited the production site of Cheongwoo Core Co., Ltd., a paper tube manufacturer in Pyeongtaek, Gyeonggi Province, supported by the FKI Management Advisory Group, and emphasized this point. Chairman Ryujin, who has long advocated that "SMEs are the future conglomerates" and "SMEs are the backbone of the economy," has made supporting SME growth a core initiative for FKI and is expanding related programs. Cheongwoo Core Co., Ltd., which he visited, manufactures paper tubes for industrial films and secondary batteries. With the help of the FKI Management Advisory Group, the company achieved a 2.5-fold increase in exports and 16.9% sales growth, despite significant external uncertainties such as tariffs.
At the event, Chairman Ryujin remarked, "Achieving 2.5 times export growth despite challenges like high exchange rates and tariff burdens is a highly encouraging result for SMEs." He added, "This is a model case proving that, even in tough conditions, strong technology and management strategies can succeed globally." He further expressed hope that, "Through continuous innovation and challenge, Korean manufacturing will confidently demonstrate its competitiveness on the world stage."
Supporting SMEs is one of Chairman Ryujin's key initiatives. Currently, FKI operates a Management Advisory Group composed of about 200 former executives and CEOs from major corporations. Since its launch in 2004, the group has provided management consulting to roughly 15,000 SMEs. FKI advisors receive only transportation expenses and volunteer their expertise virtually pro bono, driven by a commitment to share their management know-how. This year, applications to join the advisory group more than doubled compared to previous years. Chairman Ryujin commented that the surge in applicants is "an extremely healthy sign."
Three FKI advisors are currently working with Cheongwoo Core Co., Ltd., which was visited that day. Seeking to overcome stagnant sales, Cheongwoo Core Co., Ltd. joined FKI's Management Doctor Program in 2023 and began collaborating with the FKI Management Advisory Group. By actively implementing the advisors' solutions over the past two years and seven months, the company achieved simultaneous growth in both exports and sales. This year, despite a heavy 15% tariff burden, following the advisors' recommendation to propose joint tariff sharing with importers led to an increase in order volume. Additional achievements include launching buyer promotions in Eastern Europe, making initial deliveries to a Hungarian client, and being selected for the Ministry of Environment's Smart Eco-Factory Establishment Project. President Lee Dong-kyu of Cheongwoo Core Co., Ltd. stated, "The advisors, with their deep understanding of global trends and the industry, offered optimal solutions that could be immediately applied on site."
In addition to recruiting new members for the Management Advisory Group, FKI will co-host the '2025 Win-Win Cooperation Job Fair' with the government at the COEX Magok Convention Center in Seoul on the 21st to address youth unemployment and help SMEs secure talent. In early December, FKI will also hold an event to support SMEs and small business owners in joining Naver Corporation and Kakao Corporation's platforms.

ehcho@fnnews.com Eun-hyo Cho Reporter