SME Minister: “Tailored support for SMEs in megaprojects ... will help ensure fair trade”

[Financial News] The Ministry of SMEs and Startups will establish a support framework tailored to the circumstances of existing SME partners participating in the government’s three megaprojects and companies hoping to join them. It plans to support fair transactions throughout each project, from entering the supply chain to payment. 
 Lee So-young, Minister of SMEs and Startups (MSS), held a roundtable on the 21st at Korea Rating & Data in Yeouido, Yeongdeungpo-gu, Seoul, with representatives of SMEs, venture firms and startups in semiconductors, AI data centers and physical AI. “Megaprojects are a national growth strategy that will underpin the Republic of Korea for the next 20–30 years, so the role and participation of SMEs are important to spread the benefits throughout the industrial ecosystem,” the minister said. 
 The three megaprojects are large-scale national industrial and infrastructure projects centered on semiconductors, AI data centers and physical AI, with investment of at least 1.5 quadrillion won to build an AI industry ecosystem.
 The minister emphasized, “Because the challenges faced by existing partners differ from those faced by companies hoping to enter, we will establish a tailored support framework,” adding, “We will lay the groundwork to ensure that the entire process—from entering the supply chain and placing orders to production and payment—is conducted fairly and promotes ‘shared growth.’”
 The minister added, “Going forward, we will continue to serve as a bridge connecting SMEs involved in megaprojects with large and mid-sized companies and central and local governments through SME councils and other organizations,” and said, “We will continue to pursue measures to spread the benefits of the three megaprojects to SMEs.”
 The MSS is setting up a council to gauge SMEs’ demand for participating in projects and explore ways to link them with, and promote mutually beneficial cooperation with, the large and mid-sized companies leading large-scale investment projects.
 Around 20 people attended the roundtable, including representatives of nine SMEs, venture firms and startups in the semiconductor, AI data center and physical AI sectors, as well as officials from the Korea Venture Business Association, INNOBIZ Association, MAINBiz Association and Korea Startup Forum.
[email protected] Kim Hyeon-cheol Reporter