President Lee Jae-myung on the 22nd called for a new framework of cooperation between large corporations and smaller businesses, saying growth must be shared if it is to lift the broader economy.
"We need to newly transform the paradigm of win-win cooperation so that small and medium-sized enterprises and large corporations grow together in a balanced way and drive the growth of the national economy," Lee said at a meeting of senior presidential secretaries at the Blue House.
"For a rebound in the potential growth rate to translate into a qualitative improvement in the national economy, we must build an industrial ecosystem in which large corporations and SMEs grow together," he said.
Lee noted that the International Monetary Fund has projected South Korea's potential growth rate will rise for a second consecutive year, at a time when public expectations are rising for real growth above 3% this year and per capita national income of $40,000. "They say it is the first time in 40 years, since the mid-1980s period of rapid growth," he said.
"At this rate, the potential growth rate, which had fallen by roughly 1 percentage point with each change of government, will reach a historic turning point under our administration," he said.
He said the trend should serve as a catalyst for growth that is larger, sustainable and balanced. "If the fruits of growth are concentrated only in large corporations, gaps within the economy widen and polarization deepens, damaging the country's growth potential," Lee said. "Growth that marginalizes SMEs, which account for more than 80% of all jobs, is neither sustainable nor desirable."
He added that the existing framework for cooperation, centered on manufacturing and construction, needs to be extended to areas such as platforms and finance in step with the development of artificial intelligence and industrial restructuring. Tailored cooperation measures should also be devised for national undertakings including the three mega-projects, the seven SEED projects and the three core social policies, he said.
Lee also urged thorough safety management in crowded areas ahead of Halloween. "With autumn now in full swing, more people are going out, and various events and festivals are being held across the country," he said. "Next week, ahead of Halloween, large crowds are expected in major downtown districts and multi-use facilities."
"In places where many people gather at once, even a small risk factor can lead to a major accident, so airtight preparation in advance is essential," he said. "I ask that relevant agencies closely inspect on-site safety management conditions, focusing on areas where crowds are expected."
He added that response systems should be reviewed again so that warning signs can be detected early and addressed quickly. "For crowded events that have no organizer or an unclear one, I ask for even greater attention so that no blind spots arise in safety management," he said.