Business groups welcome nomination of Han Seong

South Korean small and medium-sized enterprises (SMEs), small business owners, and the venture industry on Sunday unanimously welcomed President Lee Jae-myung’s nomination of Han Seong-sook, Minister of SMEs and Startups, as the country’s next prime minister.

They widely viewed Han as a proven leader capable of driving artificial intelligence (AI) transformation, innovation-led growth, and the recovery of the economy for ordinary citizens.

In a statement released on Sunday, the Korea Federation of SMEs (KBIZ) noted Han has actively promoted AI and digital transformation for SMEs and small business owners during her tenure as SMEs Minister, drawing on her experience in the information technology (IT) industry.

The federation cited her key achievements, including the launch of industry-specific AI support programs, the restoration of basic funding for smart factories, the expansion of the delivery price linkage system, the introduction of an SME shared-growth finance index, and efforts to establish a Korean-style discovery system.

KBIZ described her as “the right person to overcome polarization and the triple challenges of high interest rates, high inflation, and a weak won, and to lead the way toward growth for all.”

The women’s business community also expressed high expectations.

The Korean Women Entrepreneurs Association described Han as “a proven economic leader who previously headed one of Korea’s leading IT companies and has led policies for SMEs, small business owners, and venture firms.”

The association particularly highlighted “Project Flower,” which she promoted during her tenure as chief executive officer (CEO) of Naver Corp. to help small business owners and content creators expand their online sales channels, and “Startup for All,” a startup promotion initiative launched during her time as minister.

It emphasized that she is well suited to lead the era of a major AI-driven transformation.

The Korea Federation of Micro Enterprise (KFME) also strongly welcomed Han’s nomination.

The organization said Han worked to reshape SME and small business policies with a growth-oriented focus through more than 150 on-site meetings.

It pointed to expanded K-beauty exports, broader adoption of the delivery price linkage system, an expanded shared-growth cashback program, and policies to revitalize regional commercial districts as major accomplishments, adding that it expects policies that will support small business owners facing an unprecedented crisis.

The venture industry focused on Han’s private-sector experience.

The Korea Venture Business Association (KOVA) described her as “a practical leader who understands the front lines of private-sector innovation better than anyone else and has led digital transformation and technological innovation,” adding that it looks forward to a new leap forward for Korea’s venture ecosystem.

The association also credited Han with shifting the policy focus of the Ministry of SMEs and Startups from “protection” to “growth” during her tenure, while contributing to expanding venture investment, broadening startup base, and laying the groundwork for regional startup development.

Technology innovation companies also welcomed the nomination.

The Innobiz Association said it expects Han’s appointment to serve as a catalyst for Korea’s advancement as a leading technology innovation nation, while the Main Biz Association highly praised her policy achievements in strengthening the growth foundations of SMEs, ventures, and startups, as well as promoting digital transformation and fostering an innovation ecosystem.

The broader business community believes Han is particularly well qualified to lead the new administration’s key priorities of AI transformation, innovation-driven growth, and economic recovery, given her experience as both an IT company executive and Minister of SMEs and Startups.

Attention is now focused on whether she can place SME, venture, and startup policies at the center of the nation’s growth strategy and create a business-friendly environment and innovation ecosystem through greater cooperation among government ministries.

Han was appointed Minister of SMEs and Startups in June last year and was nominated for prime minister about one year later.

If confirmed by the National Assembly and appointed prime minister, she will become Korea’s second female prime minister in 20 years, following former Prime Minister Han Myeong-sook, who served under the administration of former President Roh Moo-hyun.