We will strengthen our role in seeking ways for the future development of the entire industry and community, beyond the interests of a particular group of corporations.
The Federation of Middle Market Enterprises of Korea (FOMEK) held its "2026 regular general meeting" on the 26th.
FOMEK Chair Choi Jin-sik said, "This year, we will aim to strengthen our standing as the representative business organization leading the national innovation agenda." Choi emphasized, "Beyond the interests of individual corporations, we will fulfill our duty at the center of the growth ladder that drives the development of ventures and small and midsize businesses and supports the leap of large corporations."
Choi also said, "We must open a broader space for the development of Korea's industry, beyond the limited horizon of resolving the difficulties of middle market enterprises." Choi went on, "Rather than solving only one corporation's problem, everyone can recover and grow only if we address the root causes—the structural ills," calling this the "true spirit of entrepreneurship."
FOMEK decided this year to strengthen the secretariat's policy capacity to systematically support the development of middle market enterprises and the broader industry. It also plans to promote a project for "on-site visits to all member companies," in which all executives and employees communicate directly with member companies.
Attendees at the meeting included Gu Ja-gwan, managing partner of Samgu INC, Chairman Cho Si-young of Daechang, Chairman Lee Se-yong of Elentec, Chairman Park Il-dong of Disec, and Chairman Cho Moon-su of Hankuk Carbon, among others in the senior vice chair group, as well as officials from member companies. The meeting reviewed and approved the 2025 audit report, business performance and settlement of account, the 2026 business plan and budget bill, officer elections, and member expulsion proposals.
FOMEK said that since the launch of the administration last year, it has strengthened cooperation with the National Assembly and government ministries, including the Ministry of Finance and Economy, the Ministry of Trade, Industry and Resources, and the Ministry of Employment and Labor (MOEL). FOMEK carried out activities to improve the legal, institutional, and policy environment through proposals to improve policies in key areas and through on-site communication and opinion surveys of member companies.
Park Dong-il, director general for industrial policy at the Ministry of Trade and Industry (MOTI), who attended the meeting, said, "The government will work hard to provide budgetary and policy support so that middle market enterprises, the 'backbone' of Korea's economy, can continue to grow and so that more new middle market enterprises can emerge," adding, "Although internal and external uncertainties are increasing, if corporations unite in purpose and the government lends its full support, Korea will be able to achieve a great leap forward."