We speak with Oh Dong-yoon, director of the Small and Medium Enterprises (SME) Business Research Institute, which was established in 1993 for the sound development of small and medium enterprises and the growth of the Korean economy. The Small and Medium Enterprise Institute is an organization under the Ministry of Small and Medium Enterprises and Startups, and is the only research institute specializing in small and medium enterprise companies in Korea. The difficulties faced by small and medium enterprises (SMEs) are increasing day by day due to the recent phenomenon of ‘three peaks’ of high interest rates, high prices, and high exchange rates and the global economic downturn. The difficulties of SMEs, which account for 99.9% of Korean companies, are a serious problem that can lead to a crisis in the Korean economy. In response, director Oh listens to the reality of small and medium enterprises and finds a solution.
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