Lee So-young, the nominee for Minister of Small and Medium Enterprises and Startups, stated on August 31, "I will ease unreasonable regulations with the mindset of a Minister of Regulatory Reform, going beyond just supporting small and medium enterprises."
On her first day at the personnel hearing preparation office in Yeouido, Seoul, she told reporters, "No matter how much the government provides mentoring and support to entrepreneurs, if they are blocked by regulations, their ideas will inevitably be shelved."
She emphasized, "I will ensure that incidents like 'Tada' do not happen again," referring to the ride-hailing service that was forced out of the market due to opposition from the taxi industry. This statement indicates her intention to prevent similar situations from recurring.
Lee promised that the Ministry would play an active role in areas where new and existing industries collide.
She mentioned that President Lee Jae-myung has instructed her to take direct responsibility for the growth of small businesses and the challenges faced by micro-enterprises as the era of entrepreneurship through venture companies begins in South Korea. She expressed her commitment to accelerating support for small businesses and micro-enterprises struggling with management difficulties due to domestic and international uncertainties.
"The benefits of the booming export-oriented large enterprises must reach small and medium enterprises as well," she said, adding that she would assess the current situation and devise policy solutions. Drawing from her childhood experience of her mother running a restaurant to make a living, she stated, "I will creatively consider how to alleviate the difficulties faced by small business owners in this rapidly changing environment."
In response to concerns about her expertise in the Ministry's work, Lee highlighted her experience in the National Assembly. As a lawyer, she has primarily worked in the climate and environmental sectors.
Lee noted, "As the secretary of the National Assembly's Special Committee on Budget and Accounts, I have deeply engaged in issues such as the recovery of small business management, revitalizing local economies, and supporting the AI transition and exports of small and medium enterprises," adding that she has directly led efforts to increase related budgets.
This week, Lee plans to visit key associations related to small businesses, micro-enterprises, and venture startups to hear their voices. She emphasized, "Based on my expertise and experience in legislation and budgeting, I will implement policies that will genuinely benefit small and medium enterprises and micro-businesses."
* This article has been translated by AI.
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