As Prime Minister Han Seong-sook officially began duties, the small and venture business community welcomed the move, calling her "a leader who will drive innovation-led growth on the ground."
The Korea Federation of Small and Medium Enterprises issued a commentary on the 1st, saying, "Small and midsize businesses and the self-employed are still struggling due to sluggish domestic demand, a strong dollar, high inflation, and labor shortages," and added, "To overcome the economy's 'K-shaped polarization' and move toward 'growth for all,' restoring the vitality of small and midsize businesses is more important than anything else."
It went on, "The new Prime Minister Han is the right person to lead small and midsize businesses and the self-employed in artificial intelligence (AI) and digital transformation and innovation-led growth during this era of industrial transition, based on experience managing information technology (IT) corporations such as Naver and promoting related policies as Minister of the Ministry of SMEs and Startups," and noted, "We expect strong efforts to coordinate policies across ministries so the voices of small and midsize businesses and the self-employed are reflected across state affairs."
The Korea Venture Business Association also said, "Prime Minister Han is a field-centered leader who has led digital innovation and global expansion while steering Korea's leading IT platform corporations."
It added, "As Minister of the Ministry of SMEs and Startups (MSS), Han has taken the lead in revitalizing the venture ecosystem and has proven the importance of fostering new industries, startups, and regulatory innovation, making Han the most qualified person to run state affairs."
It further said, "Bold policy decisions that reflect the voice of the venture ecosystem are urgently needed to overcome internal and external crises and restore economic dynamism," adding, "We are confident Prime Minister Han will remove the barriers that block the growth of venture corporations."
The Korea Venture Business Association emphasized the need for financial market reforms that reflect on-the-ground opinions, revitalization of venture investment and easing polarization, breaking away from rigid working hours, and regulatory innovation for new industries.
The INNOBIZ Association also said, "Prime Minister Han's appointment will be an important opportunity for Korea to secure new growth engines based on research and development (R&D) and globalization and to leap forward as a leading nation in technological innovation," adding, "We will work closely with the government and do our part so Korea can leap forward as a technology powerhouse."
The Korean Women Entrepreneurs Association likewise said, "As Minister, Prime Minister Han delivered tangible results by achieving a record high in small and midsize business exports and revitalizing the startup ecosystem through swift policy execution, proving capabilities in both the real economy and policymaking," and added, "We hope this will serve as a priming water for more women leaders to grow into key players across industries, and we will work together toward that end."
On the first commute to work that day, Prime Minister Han said, "I take seriously the responsibility entrusted by the public and the National Assembly," adding, "We will boldly invest in AI and advanced industries and move to rationalize regulations that hinder innovation, while working to ensure the outcomes translate into opportunities for young people to grow and leap forward."