Kang Hoon-sik Orders Swift Formulation of Co-Growth Strategy for Large and Small-Medium Enterprises

(Seoul=Yonhap Infomax) Nam Kyoung Hwang – Kang Hoon-sik, Chief Presidential Secretary, on the 24th instructed relevant ministries—including the Ministry of Economy and Finance, Ministry of Trade, Industry and Energy, Fair Trade Commission, and Ministry of SMEs and Startups—to "promptly devise a co-growth strategy enabling large corporations and small and venture businesses to share the fruits of growth and advance together."

The Presidential Office stated that, presiding over a senior aides meeting in the afternoon, Kang emphasized, "The achievements of economic diplomacy must not remain limited to large conglomerates but should extend to small and venture enterprises, and ultimately benefit the entire public."

Kang highlighted that "the resolution of the Korea-US tariff negotiations, the confirmed introduction of 260,000 latest GPUs (graphic processing units), and large-scale economic outcomes from summit diplomacy with the United Arab Emirates (UAE), Egypt, and Türkiye are not solely the result of individual companies' efforts, but the collective endeavor of the government, businesses, and the Korean people."

He further stressed, "We must establish a sustainable co-prosperity ecosystem where the achievements and know-how of large corporations are shared with partner firms and small and venture businesses," adding, "SMEs must also secure self-sufficiency to grow into strong small and mid-sized companies through technological development and enhanced competitiveness."

Kang also noted, "Major diplomatic events such as hosting the Asia-Pacific Economic Cooperation (APEC) summit and attending the Group of 20 (G20) summit have clearly signaled South Korea's return to the international stage," and urged, "Given the rapidly changing political and economic landscape worldwide, ministries responsible for foreign affairs and security must closely monitor global developments and maintain unwavering readiness."

The Presidential Office explained that Kang directed ministries to "proactively formulate policies to leverage changes in the international environment—such as export market diversification, supply chain reassessment, expansion of K-content, and increased attraction of foreign tourists—as opportunities for economic growth," and called for "maintaining an all-out public-private response system through close cooperation with businesses to ensure effective measures."

The meeting also addressed concerns over consumer harm due to the exposure of AI-based deepfake video advertisements on online platforms and the rise in ads for unverified quasi-pharmaceutical products.

In response, Kang instructed, "Given the limitations of voluntary regulation by platform operators, establish a swift and robust response system in cooperation with the National Police Agency, Fair Trade Commission, and Korea Communications Standards Commission to pre-verify facts and immediately halt problematic advertisements, eradicating manipulated videos and exaggerated ads."

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nkhwang@yna.co.kr

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