SEMAS Pursues Innovation, Leads Growth of Small Businesses and Traditional Markets
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SEMAS Pursues Innovation, Leads Growth of Small Businesses and Traditional Markets
MSS, SEMAS join force to bear fruit

25(Sat), Feb, 2023

Chairman Park Sung-hyo of the Small Enterprise and Market Service (SEMAS) explains on policy support to traditional markets and listens to demands from representatives of the Daejeon Central Traditional Market on Jan. 11.

The Small Enterprise and Market Service (SEMAS) has been highlighted as a strong partner in its support of 6.8 million small business proprietors and about 1,600 traditional markets and shops.

SEMAS has been made known for facilitating disaster support funds and executing compensation over losses that small business and traditional market shop owners sustained due to the COVID-19 pandemic. 

Thanks to about 920 SEMAS officials’ dedicated efforts, disaster support funds and loss compensation were executed on seven and four occasions in the past three years, respectively. 

SEMAS is now coming back to its intrinsic mission: concentrating field support to ramp up the competitiveness of small businesses and traditional markets shops, despite multiple crises they experience in the wake of ‘three highs’ and public fare hikes, and take preemptive steps to help them cope with the difficulties. 

To this end, SEMAS plans to launch strategic field support this year by establishing three core missions: building smart shops, nurturing entrepreneur-type small business owners and building ‘lighthouse’ traditional markets.

SEMAS is offering smart technologies to back up management efficiency of small businesses. SEMAS plans to establish digital transition models by encouraging large-sized companies’ participation in the conventional smart technology supply project. 

SEMAS plans to build 100 win-win model shops through large-sized companies’ contributions to the project’s costs and easing of small business owners’ own burden.

SEMAS has pursed its organization innovation to ramp up capabilities as a field partner of small businesses and traditional markets. 

The organization, which made its debut last December, held a session to release and share innovative outcomes with officials from its main headquarters, regional headquarters and regional centers in attendance. 

The event was designed to share innovation outcomes, done for the past year, take their cue from outstanding examples, provide demand-oriented policies and raise SEMAS staff’s innovation capabilities. 

Ten out of 51 innovation cases were selected as outstanding examples. The most outstaying case went to an example of introducing an AI voicebot. 

The voicebot will be expanded to a call center on SEMAS’s policy funds on loss compensation in arrears. 

SEMAS Chairman Park Sung-hyo said, “Amid the rapidly changing environment, SEMAS has managed to continue to support the growth of small businesses and traditional markets.” 

This year, SEMAS will ramp up innovation by expanding the innovation outcome session and overhauling work process regimes into demand- and field-oriented ones, he said. 

In his New Year’s message, SEMAS Chairman Park called for making SEMAS an institution reborn as a strong partner, supporting the sustainable growth of Korean society by letting SEMAS executives and staff members join forces in union.

SEMAS was honored with the presidential prize last year in recognition of making efforts related to policy funds and infrastructure support and the spread of shared growth environment to invigorate small business startups.

SEMAS Chairman Park Sung-hyo lends an ear to voices of youth small business owners at the “Youth Startup Talk Talk” event on Jan. 31. (Photos: SEMAS)

SEMAS, MSS Become ‘Policy One Team’ to Bear Outcomes

The Small Enterprise and Market Service (SEMAS), under the umbrella of the Ministry of SMEs and Startups (MSS), announced a plan to accomplish its core missions for the successful implementation of the President Yoon Suk-yeol government’s national agenda. 

A workshop on core missions of MSS and its affiliated entities was held at the Small & Medium Business Distribution Center in Seoul on Jan. 30. 

The plan was worked out based on a “policy one team” between MSS and KEMAS to accelerate creation of national agendum outcomes. 

SEMAS’ core missions are building win-win smart shops, nurturing entrepreneur-type small businessmen and building lighthouse traditional markets. 

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