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South Korean President Moon Jae-in addresses representatives of SMEs and venture businesses at the Blue House on Jan. 7. (Blue House photo pool)

South Korean President Moon Jae-in said on Jan. 7 that the resumption of operations at the Kaesong Industrial Complex and tourism at Mt. Kumgang “may proceed quickly once the matter of international sanctions has been resolved.”

In a dialogue with around 200 invited representatives of SMEs and venture businesses at the Blue House that day, President Moon said North Korean leader Kim Jong-un’s “remarks in his New Year’s address about resuming Kaesong Industrial Complex [operations] and Mt. Kumgang tourism ‘without any precondition and in return for nothing’ is worthy of welcome,” Blue House Spokesperson Kim Eui-kyum reported.

Moon was additionally quoted as saying that the matter of resuming Kaesong Complex operations and Mt. Kumgang tourism “requires resolving issues with North Korea on the one hand, and resolving the matter of international sanctions on the other.”

“If inter-Korean economic cooperation takes place, the paradigm needs to change to match changes in the times. I feel that many SMEs and venture businesses will also need to advance there, and I will work to enable that to happen,” he was further quoted as saying.

Moon’s remarks came in response to a proposal from Korea Federation of SMEs (Kbiz) Chairman Park Sung-taek, who suggested that a “large synergy effect could be produced if South Korean SMEs were able to make use of high-quality North Korean labor.”

Moon also said on Jan. 7 that “jobs are the most urgent order of business, and the SMEs that account for over 80% of all employment will need to stay strong.”

“Technology and new industries need to be nurtured for us to make the leap to become a leading economy that creates value, and the actors there will be innovation startups and innovative SMEs,” he said.

He went on to explain about his SME/venture business support policies since taking office and their results, while pledging increased support this year.

“We are working to rectify unjust delivery price reductions and other unfair transactions and increase customized support for different stages of growth. We have also established a system with policy funding organizations where [businesses] that fail can rise up again,” he said.

“I believe that each new innovation startup and strong SME that appears helps our economy to gain vitality and strengthens our economic constitution,” he stressed, pledging “full-scale government support this year that will make an even bigger difference to all of you.”

By Kim Bo-hyeop, staff reporter

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