KFME Says Small Businesses Should Be Nurtured as Drivers of Innovation Through an “Entrepreneurial Spirit”

[Financial News] Song Chi-young, chair of the Korea Federation of Micro Enterprises, stressed that policy must completely shift its focus from “how much support to provide” to “what rights to guarantee,” recognizing microbusinesses themselves as a full-fledged “industry.”
Chair Song made the remarks at the opening ceremony of the “2026 Korea Small Business Convention,” held on the 23rd. “What microbusinesses need, pushed to the brink by rapid changes in consumer behavior, the onslaught of platforms and a prolonged domestic demand slump, is not emergency measures such as simple loans or repayment deferrals,” he said.
According to KFME on the 25th, the Korea Small Business Convention, held at BEXCO in Busan on the 23rd and 24th, was hosted by the Ministry of SMEs and Startups and Busan Metropolitan City and organized by KFME and the Small Enterprise and Market Service. It is the largest event in the small business sector, held to mark Small Business Day on November 5, a statutory observance. This year’s convention was organized under the slogan “A Greater Korea, Made by Small Businesses” to raise the socioeconomic standing of the country’s 8.11 million microbusinesses—the backbone of the people’s livelihoods economy and a steadfast pillar of the economy for ordinary people—and present a vision for the future.
Lee Byeong-gwon, Second Vice Minister of SMEs and Startups, also attended the opening ceremony. “At every moment of crisis, you small business owners have found new paths with your characteristic resilience and pioneering spirit,” he said, pledging that the government would support them so their drive to take on challenges would not be discouraged and they could turn crises into opportunities for greater challenges.
A total of 147 government honors were awarded at the event to exemplary microbusiness owners and people who had contributed to their development, including 21 orders and medals and 126 ministerial commendations. The Silver Tower Order of Industrial Service Merit went to An Seung-bae, owner of Sinyeong Gas Station, while the Bronze Tower Order of Industrial Service Merit went to Song Gyeong-deok, owner of Sanha Restaurant, among others.
In addition to awards for people recognized for their contributions, the convention featured a range of programs, including a small business product fair, an experience zone showcasing local commercial districts and smart technologies, a live commerce day, and a forum on livelihoods and innovation, providing an opportunity to strengthen unity and solidarity among small business owners.
The small business product fair, where visitors could buy outstanding products from small businesses across the country, featured a variety of exhibition and sales spaces, including the 100-Year Small Business Zone, Local Businesses Zone, Eight Provinces’ Premium Products Zone, Busan Special Exhibition Zone, Young Small Business Owners Zone, and R&D Lifestyle Innovation Small Business Zone. The offerings—including regional foods and household goods, distinctive handicrafts, and innovative products—proved popular.
[email protected] Kim Hyun-chul Reporter