Yoon vows bold infrastructure investment for SMEs’ innovative growth

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Seoul, May 25 | President Yoon Suk-yeol said on Wednesday that the government will support small and medium enterprises (SMEs) with bold infrastructure investment that will enhance their competitiveness and innovation.

Yoon also vowed to make efforts to create “fair” market environments for the co-existence of large firms and SMEs, during his speech at an SMEs event organised by the Korea Federation of SMEs at the presidential complex in Seoul.

“The government will help SMEs with bold infrastructure investment in a bid to prevent them from hesitating to innovate due to heavy costs,” he said during the event marking the 60th anniversary of the establishment of the organisation.

“We will help small firms utilise the fourth industrial revolution as an opportunity for new growth,” he added.

Yoon said the government will also expand its investment on research and development (R&D) for SMEs, and provide more tax incentives for their spending on R&D.

The event was the first attended by Heads of the country’s top five conglomerates. Among them were including Lee Jae-yong, de-facto Chief of Samsung Group, and SK Group Chairman Chey Tae-won.

The five Chairmen and Chiefs of SMEs-related groups participated in a handprint ceremony in an expression of their commitment to promoting fair competition and co-existence.

Source: IANS

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Weekly Fundamental Market Outlook

Weekly Fundamental Market Outlook

Indian share market posted its first weekly gain in Jun by rising 2.7%.

This week, the Indian Stock Market rebounded strongly and ended with first weekly gain of 2.7% in June as a drop in commodity prices offered some relief from broadening inflationary pressures. Copper prices, which are often seen as a bellwether for economic output due to their wide range of industrial and construction uses, are heading for their worst week in a year, while oil prices have dropped over concerns of slumping demand.

While the US recessionary fears are still at the forefront, but the slide in commodity prices has lifted the mood of stock market.Cheaper oil is usually beneficial for oil-importing countries such as India.

Domestically, on sectorial basis, Auto and FMCG are the top gainers, while Metal index is the top losers. On stock basis, Hero MotoCorp, Eicher Motors, Hindustan Unilever, Maruti Suzuki and M&M were the top gainers and Tata steel, UPL, Reliance Industries, hindalco Inds and Coal India were the top losers.

In the next week, investors will keep a close eye on crude oil price movement, commodity prices, US economic activity and the geopolitical development.

 

Post Disclaimer by BhaskarLive.in

The information contained in this post is source form the news agency or PR agency. We do not take any responsibility of accuracy of information. We have not made any modification or changes in original source content. This information only for general information purposes only. The information is provided by BhaskarLive.in and while we Endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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