President Yoon Suk Yeol announced plans to lift 263 regulations, slash administrative charges and provide financial aid for small businesses with the goal of driving economic recovery.
Instead of blind assistance, government support must aim at innovating SMEs through technology alliances with bigger companies.
The Ministry of Government Legislation announced on Thursday that it will review existing acts and expand its services to support merchants and small- and mid-sized enterprises (SMEs) better.
Advocates for small- and medium-sized enterprises rally in a protest on Wednesday in front of the National Assembly in western Seoul.
The $160 million fund will be partially used to support local start-ups entering the Middle Eastern market.
President Yoon presided over the 34th conference of small and medium-sized enterprises held on the front lawn of the presidential office in Yongsan, co-hosted by the Ministry of SMEs and Startups and Korea Federation of SMEs (KBIZ).
Small and mid-sized companies’ export volume stood at $117.5 billion, up 1.7 percent on year, in 2022.
The unemployment rate in all age groups fell last year except for those in their 20s.
The ComeUp Festival, Korea’s biggest start-up event, kicked off Wednesday at Dongdaemun Design Plaza in Dongdaemun District, eastern Seoul.
The Ministry of SMEs and Startups announced plans to create a more diverse investment environment for venture capital (VC) Friday, with an aim to increase funds invested by 8 trillion won ($5.6 billion) per year and establish a public-backed...
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