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SMEs Minister Vows to Create Second Wave of Startups

Written: 2018-04-20 18:59:46Updated: 2018-04-20 19:05:45

SMEs Minister Vows to Create Second Wave of Startups

The government plans to help small and mid-sized enterprises(SMEs) find foreign buyers by enhancing their competitiveness. 

SMEs and Startups Minister Hong Jong-haak revealed the plan on Friday during a meeting with Korea International Trade Association(KITA) Chairman Kim Young-joo and about 20 members of the association at KITA headquarters in southern Seoul.  

Noting that a startup boom in the early 2000s helped the nation become a powerhouse in information and communication technologies, the minister said the government aims to create a second wave of startups in the private sector to help the government pursue steady, innovative growth. 

He said the government will also smoothly carry out a state project to enhance the overseas competitiveness of local SMEs, adding it will assist their exports partly through partnerships with local conglomerates. 

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