Lee So-young, the nominee to lead the Ministry of SMEs and Startups, said she would work to streamline regulations and restore confidence in the KOSDAQ market if confirmed. She also signaled her intent to carve out a role for small and medium-sized enterprises and startups in large state projects, including the government's three mega projects and its "five poles, three special zones" regional development plan.
"I will be a minister who prepares for the future together with SMEs, startups and small business owners so that they are not left behind or pushed out as the times change," Lee said in her opening statement at a National Assembly confirmation hearing on the 15th.
"The artificial intelligence revolution is putting us to a great test once again," Lee said. "Through bold regulatory rationalization and the restoration of trust in the capital market, I will open an era of national entrepreneurship in which everyone can take on challenges and grow." Citing the need to develop the KOSDAQ market, she stressed, "I will not treat this as a matter for the Financial Services Commission alone. I will speak up on behalf of SMEs and startups."
Lee also proposed that the role of SMEs and startups be spelled out in national growth initiatives such as the three mega projects, the seven seed industries and the "five poles, three special zones" plan. "Growth strategies must not remain policies that serve only employees at a handful of large companies," she said. "We need to specify where and how SMEs and startups can play a role in semiconductors, AI data centers and physical AI, and what support and special provisions are needed to create those roles."
On raising productivity at smaller manufacturers and helping them cope with regulation, she said, "I will focus support on the AI transition at small and mid-sized manufacturing sites and on upgrading smart factories." She added, "With global carbon regulations and expanded environmental, social and governance disclosure requirements right around the corner, I will overhaul the relevant rules while expanding support for converting to carbon-reduction equipment and for research and development, so that SMEs can prepare in advance."
She also unveiled plans to draw up a "cost structure improvement roadmap" for small business owners and the self-employed. "On top of high interest rates and high prices, small business owners are suffering under an unsustainable cost structure as burdens pile up from rent, interest expenses, delivery app commissions, advertising costs and delivery fees," Lee said. "I will systematically turn their management burdens into measurable indicators, draw up a roadmap to lower them in real terms, and assess how effective existing policies have been."
