That’s what President Moon Jae-in pledged during a weekly Cabinet meeting today as SMEs have been at the forefront of the nation’s efforts to rekindle economic hope by keeping up exports of products related to anti-virus measures.
We will foster a system that can assess crises in a timely manner and provide customized support swiftly. We will also strengthen emergency funding support for SMEs hit hard by the coronavirus and nurture a system that supports and speeds up the transition to new, promising industries.
The government’s three-year plan to nurture SMEs, unveiled today calls for speedy digitalization of these enterprises, provision of customized support and expanding the safety net to overcome COVID-19.
Included in the plan is the creation of a five billion dollar “smart fund” by 2025 geared toward investment in non-contact, bio and Green New Deal sectors.
South Korea also plans to create 300 smart factories that use 5G and AI in the next two years.