The Ministry of SMEs and Startups held its third relay meeting to discuss growth strategies for young small business owners.

The Ministry of SMEs and Startups (Minister Han Sung-sook) announced on the 8th that it held the 3rd Small Business Growth Relay Forum on the topic of "Growth and Leap Forward for Young Small Business Owners" at the Yeongdeungpo-gu Youth Center in Seoul. This was the third event of the "Small Business Growth Relay Forum Season 2," which has been ongoing since last November. Ten representatives of young small business owners and approximately 20 experts from academia, distribution, and branding attended.

The first meeting discussed the overall direction of small business growth policies, while the second discussed digital transformation and AI-centered growth strategies (DX·AI). This meeting focused on "people-centered growth," particularly the role and growth path of young small business owners.

Professor Park Seung-bae of Seoul National University of Science and Technology presented on the topic of "Youth Growth Strategies in the Era of Light Civilization," highlighting the strengths of young people, including branding, content-based competitiveness, and market adaptability, and pointing out the potential for innovation in the startup ecosystem. Next, Noh Ji-hyun, CEO of "Slow Food Promotion Agency," a young small business owner, shared a case study of creating a brand utilizing traditional food ingredients and the process of preparing for export to the United States. Lee Chung-hwan, Chairman of the National Merchants Association, shared his experience as a young entrepreneur and leader, explaining the real-life challenges and growth points that young people face in the field.

In the subsequent free discussion, the difficulties of stabilizing a startup in its early stages, examples of local brand growth, strengthening branding and marketing competitiveness, opportunities for global expansion, and the need for policy design centered on reflecting the opinions of young people were discussed.

Second Vice Minister Lee Byung-kwon emphasized, “Young small business owners are the ones driving market change with their sensible branding, quick adaptability, and challenging spirit,” and added, “We will continue to improve our policies based on feedback from the field and systematically support the young small business sector.”

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