- The Ministry of SMEs and Startups launched a plan to enable women from startup establishment to business development and international expansion
- The strategy will enhance the position of women-owned enterprises as pillars of economic growth
The Ministry of SMEs and Startups in South Korea has launched a mid- to long-term vision plan aimed at empowering women entrepreneurs across the business cycle—from startup and expansion to international expansion.
The plan aims to position women-led companies not only as beneficiaries of social assistance but as central drivers of innovation, cutting-edge industries, and national economic growth.
On October 22, the ministry released the Second Basic Plan to Promote Women-Owned Business Activities (2025–2029), which presents a five-year policy framework based on technology innovation, global competitiveness, and improved investment opportunities for women-owned businesses. This is formulated under Article 5 of the Act on Support for Women-Owned Businesses.
The government will give top priority to backing women-owned firms in new technology and growth sectors.
This involves discovering and developing FemTech ventures utilizing technologies like artificial intelligence (AI) to enhance women's quality of life and health, as well as backing startups in women-oriented sectors like beauty and FoodTech.
Specialized programs will cater to varying levels of entrepreneurship, ranging from women university students and aspiring entrepreneurs to established professionals. Future women entrepreneurs will be identified through idea commercialization programs as well as through startup competitions.
In order to further support the development of women-owned companies, the government will create an annual 10 billion won women-centered mother fund and disburse 500 billion won every year in policy lending and fresh guarantees.
It will also encourage collaboration among successful women companies and investment houses by increasing the number of women investment managers and holding investment pitch events.
Kim Jeong-ju, Director-General for SME Strategy Planning at the Ministry of SMEs and Startups, said "women-owned corporations are a new driving force for growth and innovation that can solve issues of sluggish economic growth and decline in population."
He added the ministry will execute yearly action plans in the Second Basic Plan and keep supporting women entrepreneurs and enterprises actively to support them to achieve their full potential.
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