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2 clusters · 4 sources · 0 days · First seen · Last updated

South Korean Ministry of SMEs industrial initiatives

Overview

South Korea’s Ministry of SMEs and Startups has undertaken several initiatives to support and regulate the domestic industrial landscape. Minister Lee So-young conducted field visits to manufacturing sites, including K-beauty production facilities and semiconductor material plants, to assess industrial competitiveness and discuss challenges such as investment shortages and regulatory hurdles with entrepreneurs.

Concurrently, the Ministry launched the ‘2026 Regular Survey on Subcontracting and Consignment Transactions’ to address unfair trade practices. This investigation targets 15,000 companies and has expanded its scope to a 12-month cycle to better monitor sectors like distribution, food, and construction. The survey aims to enforce compliance regarding supply price linkages, written agreements, and payment deadlines, with administrative actions planned for companies found in violation of cooperation acts.

Entities

Ministry of SMEs and Startups · LK Chem · Kolmar Korea · KAIST · Lee So-young

Timeline

  1. [BUSINESS] 3 sources
    South Korean Ministry of SMEs launches unfair trade survey

    South Korea's Ministry of SMEs and Startups is conducting a regular survey of 15,000 companies to investigate unfair subcontracting practices and ensure compliance with supply price linkage systems.

  2. [POLITICS] 2 sources
    Minister Lee So-young conducts field visits to Korean manufacturing sites

    South Korean Minister of SMEs and Startups Lee So-young is conducting field visits to semiconductor and cosmetic manufacturing sites to address industry grievances and strengthen K-beauty and tech sectors.

Sources

biz.heraldcorp.com · hellot.net · jnilbo.com · socialvalue.kr