Strategies for Small Business Export Growth in South Korea
In a recent lecture at Sejong University, Professor Kim Dae-jong emphasized the critical need for South Korean small businesses to adapt their export strategies in response to evolving economic conditions. With the government focusing on strategic industries such as AI, biotech, and semiconductors, it is essential for these businesses to align their efforts with national priorities to thrive in the global market.
Professor Kim also highlighted the pressing issue of youth employment, noting that the current employment rate for young graduates stands at only 45%. He argued for policies that not only attract foreign companies to South Korea but also prevent local businesses from relocating abroad. This dual approach could significantly bolster the domestic job market and enhance the export capabilities of small enterprises.
As South Korea’s economy has historically relied on exports, the call for more robust support for small businesses is timely. The question remains: how can these companies leverage government initiatives to enhance their global competitiveness and contribute to the national economy?
Original source: https://www.kfenews.co.kr/news/articleView.html?idxno=642290