Lee So-young, Minister of the Ministry of SMEs and Startups, stated that the ministry will manage cost burdens for small businesses, such as rent, labor costs, and platform fees, through quantified indicators.
In her opening remarks at the National Assembly audit of the Committee on Trade, Industry, Energy and SMEs on the 7th, Lee (Minister) said, "We will quantify the cost burdens weighing on small businesses—such as rent, labor costs, interest, and platform fees—as objective indicators and continuously manage them through government oversight."
She added, "While exports remain strong and domestic demand shows signs of partial improvement, external uncertainties persist due to rising international oil prices driven by the Middle East conflict and U.S. tariff impositions, as well as global supply chain instability," emphasizing, "We will concentrate all policy efforts on alleviating field-level difficulties and spreading the warmth of growth."
The Ministry of SMEs and Startups plans to first manage business burdens through indicators while also restructuring the policy funding support system to aid the recovery of small businesses.
This year, approximately 3.682 trillion won has been allocated to provide low-interest loans for small businesses. The ministry also provided up to 250,000 won in fixed cost support for very small businesses.
Additionally, it will support the revitalization of domestic demand through initiatives such as holding the "Korea Grand Festival" in the second half of the year.
The ministry will expand support for self-employed workers' employment insurance premiums and establish new support for industrial accident insurance premiums and health care. It will also introduce a new policy insurance to cover the risk of business suspension or closure for young entrepreneur small businesses.
In particular, to eradicate technology appropriation, it plans to expand effective sanction measures, including strengthening administrative penalties and introducing large-scale surcharges.
Furthermore, it will support SMEs (small and medium-sized enterprises) so they can participate from the design stage of national strategic industries and major projects.
Lee (Minister) emphasized, "The fruits of national investment and innovation must flow not only to large corporations but to the entire industrial ecosystem," adding, "We will provide long-term, bundled concentrated support to innovative companies in new growth fields such as new security, pharmaceuticals and biotechnology, and climate tech, nurturing them into global innovative enterprises."
She continued, "The scope of mutual cooperation must expand beyond traditional manufacturing to the entire industrial sector," adding, "The government will play a leading role in ensuring this expansion reaches diverse ecosystems, including platforms and finance."
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