CHEONAN — The South Korean government will expand and restructure its "Jump-up" program to help small and medium-sized enterprises with growth potential graduate into mid-sized companies. Support will be divided into three tiers based on a company's revenue, with stronger backing in research and development, artificial intelligence transition and financing, with the goal of nurturing 1,500 national flagship high-growth firms by 2030.
Lee So-young, minister of SMEs and startups, said at a field roundtable held on the 15th at LK Chem, a semiconductor materials, parts and equipment maker in Cheonan, South Chungcheong Province, that large-scale investment under the three mega-projects must go beyond trickle-down effects from conglomerates. "It should lead to higher revenue for capable advanced technology SMEs and the creation of quality local jobs," she said. "We will build a strong growth ladder so that SMEs serving as the backbone of regional growth engines can move up to mid-sized status."
The visit to LK Chem marks the first stop on Lee's regional "Two Days, One Night Into the Field" tour, her first such initiative since taking office. The program is designed to let her meet SMEs, venture firms and small business owners across the country and reflect on-the-ground views in policy.
From the 15th through the 16th, Lee plans to travel from Cheonan to the startup ecosystem in Daejeon, the global innovation special zone in Osong, North Chungcheong Province, K-beauty companies in Sejong and a support center for small business owners making a fresh start in Cheongju. She will also visit Keundaek, a long-standing shop in Cheonan designated under the Century Shop program, to hear concerns from local small business owners.
Before the roundtable, Lee toured LK Chem's production facilities for core materials used in semiconductor thin-film deposition, its smart control room and its central research center. She reviewed production processes and met with employees.
The revamped plan for the 2027 Jump-up program was unveiled at the roundtable. Attendees included LK Chem and other first- and second-round participants in the program, such as KL Cube, Youngpoong Electronics, Saehan and Ercos, along with officials from Samjong KPMG and Boston Consulting Group, which help companies draw up growth strategies.
The revision focuses on nurturing advanced technology SMEs that can take part in the government's three mega-projects — semiconductors, AI data centers and physical AI — and on strengthening the foundation for regional industrial growth. At its core is a tailored support system based on a company's growth stage. The previous single framework will be split by revenue into Jump-up 100 for companies with annual revenue of at least 10 billion won, Jump-up 500 for those with at least 50 billion won and Jump-up 1000 for those with at least 100 billion won. Jump-up 100 will focus on establishing a management foundation, Jump-up 500 on entering new businesses and markets, and Jump-up 1000 on global expansion.
Policy support will also be strengthened to address difficulties SMEs face as they grow. The ministry plans to link support measures across five core areas — R&D, AI transition, securing skilled workers, financing and regulatory improvement — to accelerate corporate growth.
At the roundtable, LK Chem and KL Cube shared their growth results and business expansion cases after joining the Jump-up program. Participating companies raised regulatory and management difficulties they encounter in entering new businesses and overseas markets, and asked the government to expand its support.
Overseas achievements by program participants were also presented. Six semiconductor companies in the Jump-up program are taking part in Semicon West 2026, North America's largest semiconductor exhibition, held in San Francisco from the 13th to the 15th, where they are seeking global customers and business partnerships.
"We will work with relevant ministries to quickly resolve the concerns raised in the field over R&D, overseas expansion and regulation," Lee said.