SMEs minister vows to nurture 1,500 'national champion' firms by 2030

Minister of SMEs and Startups Lee So-young said Thursday the government would build a stronger growth ladder to help small and medium-sized enterprises become mid-sized companies, as the ministry announced plans to cultivate 1,500 national champion firms by 2030.

Lee made the remarks during a visit to LK Chem, a semiconductor materials, parts and equipment company in Cheonan, South Chungcheong Province. "We will work closely with relevant ministries to swiftly resolve difficulties raised in the field — including R&D, overseas expansion and regulation — so that Jump-Up participant companies, which are proving their technological capabilities on the global stage, can continue to grow," she said.

The Ministry of SMEs and Startups also unveiled a revamped Jump-Up program set to take effect in 2027. The overhaul centers on restructuring the support system into three tiers based on a company's sales, with the aim of easing the hurdles SMEs face as they grow and helping them make the leap to mid-sized status.

Under the new framework, companies with annual sales of at least 10 billion won ($7.46 million) will be placed in the "Jump-Up 100" tier, which focuses on building a solid management foundation. Those with sales of at least 50 billion won will enter "Jump-Up 500," designed to support entry into new businesses and markets, while companies with sales of at least 100 billion won will qualify for "Jump-Up 1000," targeting global market expansion.

Through this tiered approach, the ministry plans to develop 1,500 national champion firms by 2030, tailoring support to each company's stage of growth and backing the scaling-up of SMEs with high growth potential.

The ministry will also strengthen integrated support across five key areas: R&D, AI transformation, talent acquisition, financial assistance and regulatory improvement — measures intended to reduce the obstacles companies face from technology development through business expansion and entry into overseas markets.

The restructuring focuses on systematizing the support that SMEs with a certain level of sales need as they grow into mid-sized companies. Because the policy support required — whether for new business ventures or overseas market expansion — differs by growth stage, the ministry said it aims to build a tailored growth ladder for each tier.

Lee kicked off her first regional field visits since taking office with the stop at LK Chem. The trip is part of an initiative called "One Night, Two Days in the Field," in which the minister spends one night and two days in each region across the country to hear directly from small businesses, venture firms and self-employed operators.

LK Chem, the first stop on the itinerary, produces materials used in next-generation semiconductor processes and participates in the Jump-Up program. Lee toured the company's production facilities for key raw materials used in thin-film deposition, its smart control room and central research institute, inspecting the manufacturing process.

She then held a roundtable with Jump-Up participant companies and strategic supporters to discuss ways to help businesses grow. Attendees included participants LK Chem, KL Cube, Youngpoong Electronics, Saehan and Ercohs, along with representatives from Samjong KPMG and Boston Consulting Group.

At the meeting, first-cohort participants LK Chem and KL Cube shared the growth outcomes they had achieved through the Jump-Up program. Other attending companies raised regulatory concerns and operational difficulties encountered during their expansion.

Also highlighted was the participation of six Jump-Up semiconductor companies in Semicon West 2026, North America's largest semiconductor exhibition, currently under way in San Francisco, where they are conducting global business activities.

"The large-scale investment driven by the three national mega-projects must go beyond the trickle-down effect of large conglomerates and translate into increased sales for capable advanced SMEs and the creation of quality local jobs," Lee said.

Meanwhile, Lee's Chungcheong region schedule also includes visits to a startup site in Daejeon, the Global Innovation Special Zone in Osong, North Chungcheong Province, a K-beauty company in Sejong and a fresh-start support center for self-employed operators in Cheongju. She will also have lunch at Keundaek, a long-established restaurant in Cheonan, South Chungcheong Province, to encourage local small business owners.

Starting with the Chungcheong region, the ministry plans to continue field visits across the country to understand the characteristics and policy needs of regional industries and incorporate on-the-ground feedback into its policies.