Finance Minister Kim Dong-yeon has called on small and medium-sized enterprises(SMEs) to improve their management practices and hire new workers.

In a meeting with executives of these firms on Monday, Kim expressed hope that the series of government support for SMEs, including policy measures and a supplementary budget on jobs for the youth, can help the firms maintain their workforce and also hire new employees.

He said government support is focused on the period through the year 2021 when a large number of young Koreans will enter the labor market.

He asked the SMEs to fully utilize state support measures and focus on boosting competitiveness, carrying out reform and raising productivity.

The minister said that higher productivity must go hand in hand with matching the wage level at SMEs with that of large companies.

He urged efforts by smaller enterprises to spread the perception that young people entering SMEs can grow together with the firm.