The Ministry of SMEs and Startups, led by Minister Han Seung-sook, convened the second Small and Medium Enterprises Policy Advisory Council on May 22, 2026, to discuss reforms aimed at accelerating growth support and reshaping performance-oriented assistance for small and medium enterprises (SMEs). The council included both public and private sector participants to vet the progress of South Korea's symbiotic growth strategy between large and small enterprises.
Given the constraints of a limited budget, there is an urgent need for an efficient system to enhance SME support programs, ensuring that they effectively promote business expansion and yield tangible outcomes. Since early this year, the Ministry, in collaboration with the Ministry of Budget and Finance, has developed guidelines to streamline these initiatives. The review process covered a total of 477 SME support projects across 17 government departments.
The council analyzed the outcomes of this review and engaged in discussions about the forthcoming optimization strategies. A crucial focus was to evaluate support systems that can concentrate resources on companies with high growth potential, enabling them to transition into mid-sized and global enterprises. Furthermore, the need for bundled support over multiple years for innovative businesses was acknowledged, leading to discussions on specific reformations.
Additionally, the council reviewed the implementation status of the previously announced symbiotic growth strategy, which comprises a total of 38 tasks. So far, two tax-related initiatives have been completed, while the remaining 36 projects, including the expansion of collaborative financing and the introduction of a Korean-style evidence disclosure system, continue to progress smoothly.
Minister Han emphasized, "Based on the discussions from this advisory council, we will completely overhauled the budget structure, evaluation system, and support methods for SME programs to be growth-focused and performance-oriented. The Ministry is committed to creating exemplary cases and urges active participation from related departments to enhance effectiveness."
