Yoon and SMEs pledge cooperation in annual event

President Yoon presided over the 34th conference of small and medium-sized enterprises held on the front lawn of the presidential office in Yongsan, co-hosted by the Ministry of SMEs and Startups and Korea Federation of SMEs (KBIZ).

President Yoon Suk Yeol, center, poses for a picture with government officials and local business leaders at the 34th conference of small and medium-sized enterprises held on the front lawn of the presidential office in Yongsan, central Seoul, on Tuesday. From left on front row, Hyundai Motor Group Executive Chair Euisun Chung; Finance Minister Choo Kyung-ho; Samsung Electronics Executive Chairman Lee Jae-yong; Korea Federation of SMEs Chairman Kim Ki-moon; President Yoon Suk Yeol; SK Group Chairman Chey Tae-won, second from right; and Minister of SMEs and Startups Lee Young, far right. [JOINT PRESS CORPS]

The heads of large conglomerates pledged to foster healthy cooperation with smaller suppliers in an annual event attended by President Yoon Suk Yeol on Tuesday.

President Yoon presided over the 34th conference of small and medium-sized enterprises held on the front lawn of the presidential office in Yongsan, co-hosted by the Ministry of SMEs and Startups and Korea Federation of SMEs (KBIZ).

Hundreds of SME officials joined the event, and young CEOs born in the 80s and 90s sat at the head table with President Yoon for chicken and beer. Yoon reportedly chose the menu himself to encourage open-minded conversations among participants.

Samsung Electronic Executive Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Euisun Chung, LG Group Chairman Koo Kwang-mo and Lotte Group Chairman Shin Dong-bin also attended the event, according to the presidential office.

Beginning in 1989, the event brings together government officials and heads of small, medium and large enterprises to review the SMEs’ performances and recollect on the shared goal of Korea’s economic prosperity, the SMEs Ministry announced.

The event highlighted SME business efforts to reconstruct the war-torn Korean economy in the latter half of the previous century and was a mingling venue for business heads and government officials.

“Companies and the government need to form one team to succeed under the administration’s business regulation reforms,” said KBIZ Chairman Kim Ki-moon.

BY SOHN DONG-JOO [sohn.dongjoo@joongang.co.kr]