The Ministry of SMEs and Startups (MSS) in South Korea has unveiled its budget and fund management plan for 2025, totaling KRW 15.2488 trillion (approximately USD 10.6 billion). This represents an increase of KRW 299.1 billion (around USD 209 million) from the 2024 budget. The budget received approval during the National Assembly's plenary session on December 10, 2024, and aims to stimulate innovation and growth among small and medium-sized enterprises (SMEs) and startups.
The MSS has outlined four primary investment priorities for 2025: fostering deep-tech startups, supporting exporting SMEs, promoting regional innovative growth, and establishing a growth ladder for SMEs.
A key feature of the 2025 plan is the introduction of a dedicated support program for startups in the artificial intelligence (AI) and fabless semiconductor sectors. This initiative seeks to enhance collaboration between large corporations and deep-tech startups, with the goal of developing global unicorn companies. The MSS also intends to focus its research and development support on national strategic technologies and global cooperation.
To improve the global competitiveness of SMEs, the MSS will implement support for technology service exports and expand financing options tailored for exporting companies. Furthermore, the ministry plans to establish a global startup hub in 2025 to attract major technology firms and top talent to South Korea.
The MSS will introduce a new Jump Up Program aimed at assisting promising small enterprises in their transition to mid-sized companies. Additionally, public-private collaboration initiatives will be strengthened, including a reinforced Joint Growth Network Loan to enhance supply chain partnerships between large and small enterprises.
In light of ongoing economic challenges, the MSS is committed to closely monitoring the implementation of its 2025 initiatives to support small business owners and the self-employed. The ministry aims to restore economic vitality and improve livelihoods through swift fiscal execution and targeted policies. Minister Oh Young-joo emphasized the ministry's commitment to fostering innovation, stating, 'This budget reflects our commitment to helping SMEs and startups overcome challenges, scale new heights, and contribute to a dynamic, prosperous economy.'