Korea Joongang Daily
Korea JoongAng Daily

9 in 10 SMEs hire foreigners due to difficulty in local recruiting: KBIZ

Nine out of 10 small- and medium-sized enterprises in Korea that hire foreign workers said they do so because of difficulties recruiting domestic employees, a new survey showed.

2025-09-16

K-beauty and used cars drive SME exports in first half of 2025

Korea’s small- and medium-sized enterprises (SMEs) extended their export winning streak to a seventh straight quarter in the first half of the year, buoyed by rising global demand for K-beauty products and used cars.

2025-08-04

SME minister nominee to sell entire 2.3 billion-won stake in Naver

Han Seong-sook, the nominee for the minister of small and medium-sized enterprises (SMEs) and startups, has decided to sell her 2.3 billion-won ($1.69 million) stake in Naver, where she previously served as CEO, once she takes office.

2025-07-03

SMEs with 'excellent' work-family balance to defer tax audits: Gov't

Korea seeks to allow small- and medium-sized enterprises (SMEs) designated with an "excellent" work-family balance to defer tax audits as part of efforts to tackle the country's chronic low birthrate, the presidential office said Sunday.

2024-10-27

Communication the key issue for SMEs employing foreign workers in Busan and Ulsan, survey finds

Communication has emerged as the most challenging issue in managing foreign laborers for small- and medium-sized enterprises (SME) in Busan and Ulsan, according to a recent survey by a small business support organization.

2024-10-23

Korean businesses talk innovation, digital strategy at Mekong business forum

The 12th Mekong-ROK Business Forum discussed strengthening SME partnerships in the Mekong region through digital transformation and environmentally friendly innovation.

2024-08-21

Korean conglomerates surpass 3 million employees as SMEs shrink

The number of employees at Korean conglomerates exceeded 3 million for the first time last year, reaching 11 percent of the overall employment at local companies, while the number of employees at SMEs fell to its lowest level.

2024-01-22

Small businesses are 'top priority,' Yoon tells business owners

President Yoon Suk Yeol promised to provide more financial support to small businesses in the form of low-interest loans and waivers for Covid-related loan repayments.

2023-11-03

Gov't announces new $1.5B won investment fund for startups

The Korean government created a 2 trillion won ($1.5 billion) investment fund to support startups, including startups with a focus on overseas expansion. Local startups founded by foreign entrepreneurs are also among the fund's main recipients.

2023-08-30

Outlook for Korean SMEs remains underwhelming

The business outlook for Korea's smaller firms remains below par for the second half of the year amid a sluggish economy, a poll showed Tuesday.

2023-07-11