Korea Promotes SMEs' Global Expansion

©iStock/CHALLA

The chiefs of Korea’s largest business groups gathered with President Yoon Suk Yeol to garner support for small- and medium-sized enterprises (SMEs) in their overseas expansion efforts in an annual meeting on Thursday.

President Yoon presided over this year’s conference of SMEs held on the front lawn of the presidential office in central Seoul, joined by Samsung Electronics Chairman Lee Jae-yong, LG Group Chairman Koo Kwang-mo and Hanwha Group Vice Chairman Kim Dong-kwan.

The president vowed to come up with specific support measures based on the Support for Small and Medium Enterprise Establishment Act, which was passed in February.