Small and medium-sized enterprises and medium-sized enterprises requested the new government to reignite the engine of growth in Korea through the growth of small and medium-sized enterprises.

The Korea Federation of Small and Medium Enterprises said in a commentary on the 4th, "The Korean economy is facing a complex crisis of low growth at around 0%, low birth rates, aging, and trade wars," and noted, "The new government must exert all its capabilities to overcome these crises and reignite the fading growth engine of Korea." It emphasized that "growth must not be limited to large corporations or specific regions, but should enable small and medium-sized enterprises, ventures, small business owners, non-capital regions, and workers to grow together."

Presidential candidate Lee Jae-myung of the Democratic Party of Korea, whose election is virtually certain, visits the Democratic Party of Korea headquarters in Yeouido, Seoul, in the early morning of the 4th and heads to the ballot counting broadcast venue. /Courtesy of News1

The Federation also stated, "In fostering future-leading strategic industries, support for small and medium-sized enterprises must be strengthened, and traditional manufacturing small and medium-sized enterprises should be ensured industrial competitiveness through innovations and structural improvements based on AI and carbon neutrality." It added, "A fair economic ecosystem should be created among all economic entities, including large corporations, online platforms, and financial institutions, to lay the foundation for mutual growth."

The Federation of Medium Enterprises identified strengthening export competitiveness as the top priority for the new government. The Federation stated, "We must revitalize weakened export competitiveness by actively responding to the rapidly changing global economic order, such as reciprocal tariffs under the Trump administration, centered on national interests in diplomacy." It emphasized that "we need to quickly enhance the vitality of corporations, which are the core of the national economy, in a worsening global competitive landscape and establish a strong innovation base that encompasses both high-tech and traditional industries."

The Federation also said, "We must create a reasonable law, system, and regulatory environment that encourages challenges and maximizes the creativity of corporations, which are the main agents of innovation."