SMALL AND MEDIUM BUSINESS ADMINISTRATION

The promotion of small and medium enterprises (SMEs) has led the Korea's unprecedented economic growth, the so-called 'miracle of the Han River'. The Small and Medium Business Administration (SMBA), since its foundation in 1996, has supported the Korea's SME-led innovation as the dynamo of the national economy. Considering that the competitiveness of SMEs can be translated into national competitiveness itself, SMBA's primary mission has been to foster challenging and innovative SMEs so as to maximize the growth potential of Korea. Now, Korean SMEs account for 99% of all corporations and 88% of all employees.