The Ministry of SMEs and Startups (Minister LEE Young, hereinafter referred to as “MSS”) announced the “Comprehensive Plan for SMEs Promotion (2023-2025)” on July 11 at the 28th Cabinet Meeting.

This basic plan, in accordance with Article 19-2* of the Framework Act on Small and Medium Enterprises, is a statutory plan established every three years. It aims to create a foundation for promoting innovative growth and job creation, led by the private sector, businesses, and the market, based on autonomy and creativity. The plan was formulated to provide the direction for SME policies over the next three years.

In order to establish this plan, the MSS has identified detailed policy tasks through various means, including 944 field communications and meetings since May 2022, expert consultations, discussions with relevant organisations and ministries, and policy forums involving small and medium-sized business owners (held on May 15). Based on this, the MSS has formulated the following strategic plans:

 ➊ Achieving the vision of “50+ for SMEs and Ventures” through the SME Export Drive, 

➋ Leap towards becoming a “Global Startup Nation” through comprehensive support for ventures and startups, 

➌ Fostering entrepreneur-type small business owners and expanding a robust safety net. In addition, specific strategies have been developed by dividing the plans into the four areas of global, digital, inclusive growth, and crisis management, tailored to each policy target such as SMEs, startups and ventures, and small business owners.