“By 2030, nurture 10,000 medium-sized companies to achieve 200 billion won in exports”… Government announces growth promotion strategy

4 Strategic Role for Medium Companies

The government has set a goal of establishing 10,000 medium-sized companies and achieving $200 billion in exports by 2030. To this end, it will invest 1.5 trillion won in R&D support funds over the next 10 years. It is also a plan to create and support a jump-start fund for medium-sized companies worth 1 trillion won by 2027.

On the 16th, the Ministry of Trade, Industry and Energy held a ‘Meeting for Medium Enterprises at MCNEX in Songdo, Incheon’ and announced the ‘Strategy for Promoting the Growth of Medium-Sized Enterprises’.

This strategy was prepared to implement ‘Promoting an Industrial Strategy that Focuses on Growth (National Task 17)’, one of the new government’s national tasks.

The government explained that if the last 10 years were the time to establish institutional foundations such as laws and support institutions for medium-sized companies, from now on, it will support the quantitative and qualitative growth of medium-sized companies.

The main directions of this strategy are ▲ strengthening the four strategic roles of medium-sized enterprises ▲ establishing a life cycle support system that stimulates voluntary innovation and challenging enterprises ▲ creating a foundation for a growth promotion system.

Looking at the detailed promotion strategy, by 2033, 1.5 trillion won from technology development funds will be invested in global expansion, supply chain stabilization, and digital transformation focusing on the 15 core industries of companies medium-sized such as semiconductors, secondary batteries, and advanced biotechnology. Through this, 100 to 150 leading companies in each field will be intensively supported.

In the 15 key industries, a support track is also implemented to select promising SMEs and accelerate their access (growth ladder) to medium-sized companies. To this end, the Ministry of Trade, Industry and Energy and the Ministry of Small and Medium Enterprises and Start-ups intend to select 1000 ‘high growth innovative companies’, 100 each year, and support the ministries’ projects such as research and development, export, and human resources. in the form of an integrated package.

A life cycle support system that encourages voluntary innovation and the challenge of medium enterprises has also been established.

During the new business discovery stage of medium-sized companies, it was decided to support the establishment of medium-sized company alliances, industry-academic research institutes, and foreign networks so that they could meet various innovative entities such as start-ups, research institutes, and universities to find to new business items and new technology.

In the technology securing phase, it plans to create a fund to support the leap of medium-sized companies worth 1 trillion won by 2027 so that private growth capital can be actively used. As a first step to this end, in the first half of this year, the first fund worth 100 billion won will be launched through an investment in the Industrial Technology Innovation Fund.

At the same time, we intend to actively discover new special cases for support. The government also intends to continue to consult with relevant ministries and agencies on improvement plans by gathering the views of companies in areas where various support is excessively reduced as SMEs grow into medium-sized companies.

In order to realize the investment plan of 160 trillion won (until 2027) over the next five years, announced by the medium-sized business community at the medium-sized businessmen’s day ceremony in November last year, it plans to implement a group dedicated to investment difficulties in mid-sized companies to solve tailored difficulties.

In order to solve the shortage of manpower from local medium-sized companies, job fairs, held mainly in the metropolitan area, will be expanded by region starting this year, and a support program to cultivate talents with master’s and doctorate degrees in universities. is established in connection with the recruitment of local medium-sized companies. The name of this program is the ‘Medium Regional Enterprise Innovation Alliance’ and it will be conducted in a way that supports the expenses of students on the condition that, after cultivating talents with master’s and doctorate degrees, they must get a medium job. company size. The government plans to inject 41.4 billion won by 2028.

Jang Young-jin, Chief Vice Minister of Industry asked, “Medium-sized companies, which are the backbone of our industry, have the potential to advance into the global market based on first-class technological competitiveness, so become a leading force. in future exports.”

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