The Ministry of SMEs and Startups said on the 21st that it held a roundtable with small manufacturers' associations at Yeonpoongmun in the Blue House.
The roundtable was held to hear the voices of small manufacturers, who form the backbone of manufacturing and regional economies, and to seek ways to ease economic polarization and promote national unity. Attendees included Her Eun-a, secretary for national integration, the Office of the Secretary for SMEs and Startups, and the National Federation of Urban Small Manufacturers.
They proposed three key agendas for economic, generational, and regional integration, including realizing a fair economy, passing down skills across generations, and strengthening local communities.
Discussion also took place among participants. Opinions were raised that, to realize a fair economy, a "shared economy" should be fostered by establishing a fair transaction order among large companies, small and midsize companies, and small manufacturers. There were also calls to combine the technical prowess of older master workers with the digital capabilities of youth to overcome intergenerational breaks in skills.
Participants agreed that, to strengthen local communities, jobs should be increased around small manufacturers' business sites and an economic ecosystem of mutual growth with local residents should be created. They also discussed building a virtuous cycle in which the results generated return to the local community.
Small manufacturers conveyed on-the-ground difficulties such as worsening profitability due to the economic downturn and rising materials and supplies prices. The Ministry of SMEs and Startups responded by introducing government support policies for small manufacturers and outlining financial and market access support measures for business stability and crisis recovery.
The government plans to review the difficulties raised that day and expand policy support to underpin a sustainable growth base for small manufacturers. It will continue to gather on-the-ground opinions, including those of small manufacturers, and pursue efforts for coexistence and social integration.