On February 27, 2025, President Kang held a significant press conference at Tower 8 Building in Jongno-gu, Seoul, marking the 100th day of KOTRA's inauguration. During this event, he underscored the importance of small and medium-sized enterprises (SMEs) to South Korea's export economy, highlighting how these businesses play a pivotal role in driving export growth.
President Kang revealed compelling statistics, stating, "96,000 out of 100,000 exporters were small and medium-sized enterprises last year." This figure indicates the growing presence of SMEs within the export sector, reflecting the diverse base of South Korea's exporters. He emphasized, "Korea also has an economic structure in which small and medium-sized enterprises support the entire industry." This remark showcases his focus on strengthening the backbone of the economy through support for smaller firms.
Setting ambitious targets, President Kang expressed his goal to expand the number of small and medium-sized export companies to 100,000, alongside increasing the number of trade centers to 140 within his term. He stated, "The more strong small and medium-sized enterprises there are, the more exports we can make..." This approach is expected to bolster South Korea's export capacity and resilience against market fluctuations.
A notable aspect of President Kang's plan is to diversify the targeted markets for exporters. He pointed out, "Companies... should also be able to export to areas they have not exported," focusing particularly on the dynamic markets of the Global South. This includes countries such as India and those across South America, which have been recognized for their rapid economic growth, large consumer bases, and vast resource reserves.
To implement his vision, President Kang announced the upcoming establishment of two new trade centers intended to support local exporters more effectively. These centers will be opened this year in Monterrey, Mexico, and Tbilisi, Georgia, helping to create stronger trade connections and opportunities for South Korean companies. "We will open new trade centers within this year... for close local support," he declared, emphasizing the importance of localized efforts to bolster export activities.
The strategy reflects South Korea's commitment to building sustainable economic partnerships and enhancing the capacities of its SMEs to explore new markets. By redirecting focus from traditional strongholds such as the Americas, China, and Europe, to the rising economies of the Global South, the South Korean government hopes to not only increase the number of exporters but also their adaptability and success on the global stage.
Overall, President Kang’s initiative signals a proactive approach to export enhancement, ensuring SMEs are adequately supported as they navigate the increasingly complex global market. With the proposed expansion and strategic targeting of new markets, South Korea is poised for substantial growth, emphasizing the necessity of SMEs at the heart of its economic strategy.