Lee So-young: "KOSDAQ Is the Lifeblood of Growth for SMEs and Startups... We Will Work to Restore Trust"

[Financial News] Lee So-young, nominee for Minister of SMEs and Startups, said she would work to improve regulations and restore trust in the KOSDAQ market.
In her opening statement at the confirmation hearing held by the Trade, Industry, Energy, SMEs and Startups Committee of the National Assembly of the Republic of Korea on the 15th, Lee emphasized, "We will usher in an era of national entrepreneurship in which everyone can take on challenges and grow."
She said, "If regulations are blocking new challenges by businesses, I will seek solutions from the perspective of businesses and the public, regardless of which ministry is responsible." She added, "I will regard easing regulations under other ministries not as someone else’s work but as the work of the Ministry of SMEs and Startups. If necessary, I will personally persuade and communicate with the ministers of other ministries."
In particular, she pledged to create opportunities for SMEs and startups to grow by restoring confidence in and revitalizing the KOSDAQ market.
Lee emphasized, "We will build a capital market where SMEs and startups can grow." She added, "The capital market is a channel through which small and medium-sized enterprises raise growth capital and an exit market for venture companies. The KOSDAQ market is the lifeblood of growth for SMEs and startups."
She continued, "We will restore the KOSDAQ market’s eroded credibility and create a KOSDAQ market that attracts new capital." She also pledged, "I will not regard this solely as the work of the Financial Services Commission, but will speak up on behalf of SMEs and startups."
Lee also outlined plans to expand the role of SMEs and startups in major national projects, including the three major mega-projects and the five poles and three special regions initiative.
Lee pointed out, "Growth strategies must not remain policies intended only for employees of a small number of large corporations." She added, "We need to specify what roles SMEs and startups can play in semiconductors, Artificial Intelligence (AI) data centers, and Physical AI, as well as what support and special measures are needed to expand their roles."
She also pledged to establish a roadmap for improving the cost structure of small business owners and the self-employed, whose current cost burdens are unsustainable.
Lee said, "Small business owners are suffering as various costs accumulate on top of high interest rates and high prices, including rent and interest expenses, delivery app commissions, advertising costs, and delivery fees." She added, "We will systematically quantify the management burdens faced by the self-employed and establish a roadmap to reduce them substantially."
In particular, she said she would pursue measures for the self-employed, including support for healthcare and caregiving costs, expanded support for industrial accident insurance and employment insurance, and improvements to systems for dealing with business closures and encouraging new challenges.
Lee emphasized, "I believe the government’s responsibility is to create an environment where people can take on challenges through innovation and a structure in which they can reap the rewards of their efforts." She added, "If I am given the opportunity to work at the Ministry of SMEs and Startups, I will communicate with SMEs, venture companies, small business owners, and the self-employed with the attitude that the answers are in the field, and actively reflect their views in policy."
[email protected] Lee Joo-mi Reporter