SMEs Archives | Be Korea-savvy
Successful Cooperation Profit Sharing Relies on Participation of Large Corporations

Successful Cooperation Profit Sharing Relies on Participation of Large Corporations

SEOUL, Nov. 7 (Korea Bizwire) — The South Korean government is striving to come up with alternative profit-sharing schemes between large corporations and small-and-medium-sized companies with the intention of promoting a more horizontal relationship between them. The government is also looking to implement a coexistence model where both large corporations and SMCs can achieve a win-win [...]

Gov’t Promises to Help Finance Smart Factory Clusters

Gov’t Promises to Help Finance Smart Factory Clusters

SEOUL, Aug. 6 (Korea Bizwire) — Companies that share similar production processes will be able to finance high-quality “smart” factories cost-effectively by coming together in clusters of five or more. The Ministry of SMEs and Startups revealed yesterday that it would be partially funding the establishment of factories that would benefit companies through economies of [...]

Credit Card Companies Pay Close Attention to the Launch of “Seoul Pay”

Credit Card Companies Pay Close Attention to the Launch of “Seoul Pay”

SEOUL, Jul. 26 (Korea Bizwire) — Credit card companies are on high alert after the launch of a new payment system by the city of Seoul that allows small business owners and their customers to make monetary transactions without any fees. Yesterday, the Seoul Metropolitan Government announced the launch of “Seoul Pay,” a zero transaction [...]

Gov’t to Relax Rules for Crowdfunding to Help SMEs

Gov’t to Relax Rules for Crowdfunding to Help SMEs

SEOUL, Jun. 5 (Korea Bizwire) — The government plans to soften rules for crowdfunding to help small- and medium-sized enterprises (SMEs) raise money from individual investors, the head of the financial regulator said Tuesday. Currently, only venture startups are allowed to raise funds through crowdfunding, which enables them to get capital from a large number [...]

Income Gap Makes Recruiting Young Workers Difficult for SMEs

Income Gap Makes Recruiting Young Workers Difficult for SMEs

SEJONG, March 6 (Korea Bizwire) — Young South Korean workers are avoiding small and medium-sized enterprises in fear of the long-term negative impact on their career and income, a new study has revealed. The report released by the Korea Development Institute (KDI) on Tuesday showed a worker’s first job has a significant impact on their career [...]

Small Business Owners Suffer From Poor Quality of Life

Small Business Owners Suffer From Poor Quality of Life

SEOUL, March 5 (Korea Bizwire) — Despite growing awareness of the importance of work-life balance, owners of small businesses have a poor quality of life, a study published on Monday has revealed. According to the study conducted by the Korea Federation of SMEs, South Korean small business owners work six days a week, 11 hours a [...]

Positive Perception Towards SMEs at 51.4 Points: Survey

Positive Perception Towards SMEs at 51.4 Points: Survey

SEOUL, Dec. 25 (Korea Bizwie) — South Koreans’ positive perception towards small and medium-sized enterprises (SMEs) was far lower than large conglomerates, a business association said Monday. In an October survey of 1,000 people aged 20 or older, the Korea Federation of SMEs found that their positive perception towards SMEs stood at 51.4 points, down [...]

S. Korea, Missouri Sign MOU on SMEs Promotion

S. Korea, Missouri Sign MOU on SMEs Promotion

SEOUL, Sept. 29 (Korea Bizwire) — The South Korean government said Friday it has signed a memorandum of understanding (MOU) with the state of Missouri to enhance cooperation between small and medium-sized enterprises (SMEs). The pact was signed in Seoul between Choi Su-gyu, vice minister of SMEs and Startups, and Missouri Gov. Eric Robert Greitens, [...]