SME Community Welcomes Nomination of Lee Soyoung, Anticipates New Vitality for SME Ecosystem

Will Implement Effective Policies to Address K-Shaped Polarization

The small and medium-sized business community has expressed its support for the nomination of Lee Soyoung, a lawmaker from the Democratic Party of Korea, as the Minister of SMEs and Startups.

The Korean Federation of Small and Medium Business (K-Biz) issued a statement on the 30th, saying, "We hope that Assemblywoman Lee's nomination as Minister of SMEs and Startups will serve as an opportunity to inject new vitality into the ecosystem for SMEs, startups, and small business owners."

Korea Federation of Small and Medium Businesses (Kbiz) Logo. Korea Federation of Small and Medium Businesses (Kbiz)

Regarding the nominee, the organization noted, "Through her activities with 'Unicorn Farm,' the National Assembly's startup research group, she has worked to improve regulations for the market entry of innovative companies." They added, "Given her expertise in the fields of climate, energy, and the environment, Ms. Lee is well-positioned to connect the issues of carbon neutrality, energy transition, and competitiveness for small and medium-sized enterprises."

The Federation also emphasized her efforts to listen to the challenges faced by SMEs and small business owners in the field through her work with the National Assembly's Trade, Industry, Energy, SMEs, and Startups Committee, and to seek out solutions.

K-Biz stated, "Based on her experience, we expect Ms. Lee to implement effective policies to help SMEs tackle pressing issues such as artificial intelligence (AI) and digital transformation, entering global markets, and overcoming the polarization of K-shaped growth."

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