Eight organizations representing small and medium-sized enterprises are set to elect new leaders next year, from the Korea Federation of SMEs to the Korea Federation of Micro Enterprise. [Hong Seok-hee]
Eight organizations representing small and medium-sized enterprises are set to elect new leaders next year, from the Korea Federation of SMEs to the Korea Federation of Micro Enterprise. [Hong Seok-hee]

Korea Federation of SMEs, Mainbiz, Innobiz among groups whose chair terms expire in February

Kim Ki-moon barred from seeking another term; Jeong Gwang-cheon signals he won't run again; Song Byeong-jun, Kim Myeong-jin undecided

Korea Federation of Micro Enterprise election set for August; each group uses a different selection method

The heads of major economic organizations representing South Korea's small and medium-sized enterprises are set to reach the end of their terms en masse next year. Starting with the Korea Federation of SMEs, the Korea Mainbiz Association, the Korea Innobiz Association, the Korea Venture Business Association, the Korea Venture Capital Association and the Korea Women Venture Association are all expected to choose new chairs around February. The Korea Federation of Micro Enterprise will hold its leadership election in August, and the Korea Businesswomen's Association is scheduled to install a new chair toward the end of next year. The concentration of leadership transitions across the country's top SME and venture organizations in 2027 has prompted industry insiders to call it a "mega election" year.

The most closely watched seat is the chairmanship of the Korea Federation of SMEs — a post informally known as the "SME president." Kim Ki-moon's term as the 27th chair expires in February 2027. Under the Small and Medium Enterprise Cooperatives Act, the federation chair serves a four-year term and may be reappointed once. Kim returned as the 26th chair in 2019 and was reappointed as the 27th in 2023, making him ineligible to run again. He has also publicly declared he will not seek another term.

Kim previously served as the 23rd and 24th chair before stepping away for a period and returning to the post in 2019. In the 2023 election, he ran unopposed and was elected unanimously at a general assembly attended by 364 full members. The federation chair is chosen by a vote of full member representatives or candidates they nominate. Industry sources say five or six potential candidates are already quietly campaigning behind the scenes, and whom Kim chooses to back is itself a subject of considerable interest.

The Korea Federation of Micro Enterprise will hold its election in August. Current chair Song Chi-young serves until Aug. 30, 2027. In the 2024 election, Song won 35 votes from the 57 member organizations that participated — out of 58 full member groups — for a winning rate of 61.4 percent.

A key question surrounding the Korea Federation of Micro Enterprise election is whether Song will seek a second term. The race has drawn additional attention after former chair Oh Se-hee, now a lawmaker, reportedly introduced legislation aimed at blocking Song from running again. The bill would restrict Song's eligibility to stand as a candidate, though whether it can pass a plenary session of the National Assembly remains uncertain.

The Korea Mainbiz Association is also due to elect a new chair. Kim Myeong-jin took office in February 2024, with his term running through the 18th regular general assembly in 2027. Under the association's bylaws, the chair serves a three-year term and may be reappointed once. Kim has not yet decided whether to seek reappointment.

Under the Mainbiz bylaws, the general assembly consists of board members, branch chairs elected by members, and the secretary-general. An association official said the number of people eligible to vote in the next chair election is currently estimated at around 200 to 250. Former chairs Park Yong-ju and Seok Yong-chan both won reappointment in the past.

The Korea Innobiz Association is widely expected to elect a new chair. Jeong Gwang-cheon took office on Feb. 21, 2024, beginning a three-year term. He has reportedly told association officials on multiple occasions that he does not intend to seek reappointment. "There is no precedent for a chair being reappointed," an association official said. "If a single candidate comes forward, they will be installed by acclamation; if multiple candidates run, the chair will be decided by a vote."

The board's vote is the decisive factor in Innobiz elections. In the 2023 leadership race, candidates Jeong Gwang-cheon and Cheon Gi-hwa faced off in a closed ballot among 71 board members. The association said the current electorate stands at around 100 voters.

The Korea Venture Business Association also faces a leadership decision in February. Song Byeong-jun took office as the 12th chair on Feb. 28 last year. He was elected at a general assembly after his predecessor, Seong Sang-yeop, completed a two-year term and stepped down. The association selects its chair through a process that begins with candidate registration, followed by a recommendation procedure involving former chairs and other senior figures, a board recommendation, and a final vote at the general assembly. Among past chairs, Ahn Geon-jun served two consecutive terms from 2017 to 2020.

Song has not yet publicly stated whether he will seek a second term. Within the association, officials note that it is structurally difficult for rival candidates to emerge if the incumbent signals a desire to continue. However, the bylaws do not bar other candidates from running, making Song's intentions the first variable shaping the next election.

At the Korea Venture Capital Association, Chair Kim Hak-gyun's term ends at the February 2027 regular general assembly. Kim took office as the 16th chair in February 2025. In that election, 40 of the 45 board member firms with voting rights cast ballots; Kim received 21 votes to Song Eun-gang's 19 — a margin of just two votes. Kim's appointment was formally confirmed at the subsequent general assembly.

The Korea Women Venture Association is also due for a leadership change, with Chair Seong Mi-suk's term set to expire around next year's regular general assembly. Seong took office as the 14th chair on Feb. 25 last year. Her predecessor, Yun Mi-ok, stepped down after completing a two-year term and was named honorary chair.

The Korea Businesswomen's Association has a more complex selection process than the other groups. Chair Park Chang-suk was installed as the 11th chair at a national general assembly in December 2024, winning the support of a majority of registered delegates, and began a three-year term on Jan. 1, 2025. Her term runs through the end of 2027.

In practice, however, the association's senior vice chair typically becomes the next chair candidate, meaning the real succession contest plays out well before the formal leadership transition. Park herself served as senior vice chair before ascending to the chairmanship. "We don't yet know who the candidates will be," an association official said. "Usually by this time of year, people who are interested start making themselves known — but this year, in particular, there isn't even any speculation."

The Korea Federation of SMEs will hold an election for Kim Ki-moon's successor in February. Kim announced earlier this year that he would not seek another term. [Korea Federation of SMEs]
The Korea Federation of SMEs will hold an election for Kim Ki-moon's successor in February. Kim announced earlier this year that he would not seek another term. [Korea Federation of SMEs]

hong@heraldcorp.com