City and Small Enterprise and Market Service agree to build comprehensive support governance
Partnership to link policy across full business lifecycle — from startup to recovery
Busan city government and the Small Enterprise and Market Service signed an MOU Monday morning to build a comprehensive small business support governance framework, in a ceremony held at Busan City Hall's international protocol hall.
The agreement is designed to create a system through which the Small Enterprise and Market Service — which implements the central government's small business support policies on the ground — can work in coordination with Busan to deliver tailored assistance to local small business owners. Busan Mayor Jeon Jae-soo and Small Enterprise and Market Service Chairman In Tae-yeon signed the agreement alongside officials from both organizations and pledged mutual cooperation.
Under the MOU, the two institutions will link their policies and support projects across the full lifecycle of small businesses — from startup and growth through management stabilization and recovery — and expand their cooperation accordingly.
Key areas of collaboration include: establishing a comprehensive small business support governance structure and operating communication channels between the two agencies; providing policy support tailored to each stage of the small business lifecycle — startup, growth and recovery; building a management safety net for small business owners; sharing information and promoting policy to ease operational burdens such as energy costs; and supporting digital transformation and AI adoption among small businesses.
The two institutions will also join forces on Busan's energy voucher project for small businesses, aimed at helping local owners cope with rising energy costs. The program provides 200,000 won ($149) per person in energy vouchers — distributed as Dongbaekjeon policy subsidies — to 250,000 small business owners with annual sales of 300 million won or less who operate in Busan.
The vouchers can be used for vehicle fuel costs including gasoline, diesel and LPG. The Small Enterprise and Market Service will cooperate by sharing customized information and providing policy support needed to carry out the program.
"Through this agreement, we will strengthen cooperation with the Small Enterprise and Market Service and build a support system that firmly backs small business owners at every stage of their journey — from startup and growth to management stabilization and recovery," Mayor Jeon said.
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