Moon vows to nuture SMEs as main players of post-virus economy

2020-10-06 4

문대통령 "중기•벤처를 디지털경제 주역으로...위기 중소기업 지원 강화"

Support for South Korea's SMEs and venture start-ups so that they can become key players in the post-pandemic economy.
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.