SMEs and Innovative startups create jobs and drive economic growth
the Yoon Administration set the vision of promoting Dynamic and Innovative growth
by pursuing economic policies centered on the private sector
as the control tower of the Korean SME policy
the ministry of SMEs and startups supports SMEs, startups and micro-enterprises,
which are the backbone of the Korean economy
[SME policy Review Council Meeting]
The ministry of SMEs and startups or MSS strives for an efficient operation
and implementation of pan-governmental SME policies and programs
through scientific database performance evaluation
about 6.7% of Korea's total expenditure is allocated to supporting SMEs valued at $30.1 billion in 2022
[Fostering innovative startups]
The MSS supports startups and Venture businesses as the engine of Korea's Innovation
We Endeavor to facilitate startups in Korea's leading sectors of semiconductors,
and artificial intelligence, and supports them to lead the digital economy
by providing the fund of funds
As a result, 23 Korean startups have grown into unicorns
we have created seven Korean startup centers to promote their Global access
and support foreigners' domestic business
to attract and retain overseas Talent
into the domestic ecosystem
[Promoting SMEs growth]
The MSS supports the growth of SMEs and promotes their overseas Market access
by providing necessary help for SMEs at each stage of their growth
from technology development and commercialization, financing, hiring and educating skilled workers,
public purchasing to export incubation
In addition, we help SMEs grow into global businesses by preventing unfair business transactions
with large businesses and stimulating win-win cooperation
such as introducing a supply price indexation system
[Supporting Micro-enterprises]
[Minister's Press Briefing on Microenterprise Policy]
the MSS assists business stability of 6.44 million micro-enterprises in poor working conditions,
which account for 93.5% of the total businesses
by providing policy financing through direct Loans and guarantees
We also support small merchants to introduce smart devices
and e-commerce to help them adapt to a changing digital environment caused by the pandemic
Furthermore we Foster anchor shops and local commercial districts create their brands,
and infrastructure to bring vitality into the local community
[Designation of Regulation-free Special Zone]
[Revitalizing lacal economies]
the MSS helps boost the sagging local economies
and realize a balanced growth by designating 32 regulation-free Special zones and 19 techno parks
in special zones SMEs can freely develop new products and sell them without restrictions
in the new Industries such as autonomous vehicles, hydrogen cars, block chains, Etc
in addition we designate techno Parks as clusters for Innovative businesses
to foster and support anchor firms that can lead core Industries in each region
the MSS strives to make a contribution to the International Community by sharing Korea's experiences
and knowhow on economic development and SMEs promotion
with individual countries and international organizations such as OECD
These days, SMEs are experiencing complicated crises
caused by rapid changes in domestic and global business environment
such as carbon neutrality, disruptions in global supply chain
and a rising interest rate
[the ministry of SMEs and Startups, as the coordinator in Korea's real economy]
[will try our best to make smes utilize the current crisis as an opportunity ]
[and Lead an inclusive digital economy]
Ministry of SMEs and Startups
visit our website at
www.mss.go.kr/site/eng/main.do
