Yoo Sang-im, the Minister of Science and ICT, discussed ways to strengthen cooperative partnerships with major platform companies to enhance their social role and address public livelihood issues. This follows the establishment of the Digital Public Support Task Force.
On the morning of the 6th, Minister Yoo met with representatives from top platform companies including Naver, Kakao, Coupang, and Danggeun Market, as well as the president of the Korea Internet Corporations Association and the chairman of the Platform Law Policy Society at the Korea Press Center in Jung-gu, Seoul. This was her first meeting with them since taking office.
In her opening remarks, Minister Yoo stated, “Platform companies play an important role in opening up new market opportunities for small businesses and SMEs. It is necessary for them to fulfill their social responsibilities commensurate with their influence and work towards growth alongside market participants.”
She also mentioned that companies utilizing online platforms see higher sales and lower closure rates, emphasizing, “Platforms can greatly aid small businesses in expanding their sales channels and undergoing digital transformation. This in turn will provide a foundation for the sustainable growth of platform companies.”
Professor Lee Bong-ui from Seoul National University, speaking on “Reflections on the Value of Platforms and Platform Policy,” suggested, “Although Korea possesses some competitive local platforms, we are far behind global big tech. Laws and policies should be formulated to help ‘K-platforms’ develop into significant national industries amidst the strong wave of digitalization.”
The major platform companies then presented their current and planned cooperative efforts. The four platform company representatives present agreed that public expectations for platform companies have significantly increased and expressed their commitment to actively participate in mutually cooperative growth with small businesses.
Naver plans to expand and reorganize its fountain fund, which was established to support the digital transformation and sustainable growth of SMEs and creators. This will strengthen support programs for small businesses, including a large-scale “SME AI Training Project” set to invest 60 billion KRW over the next five years to enhance AI solution utilization skills for one million small business owners.
Kakao aims to expand its “Project Regulars,” which supports businesses in gaining regular customers through digital transformation by offering subsidies for sending KakaoTalk channel messages. This project will expand from individual markets and streets to entire adjacent urban markets and streets, with plans to support around 100 traditional markets and streets nationwide next year. They will also strengthen industry-specific training, cultivate regular mentors, and discover star regular shops.
Additionally, Kakao announced plans to alleviate small business burdens by increasing the settlement frequency of KakaoTalk Gift Exchange vouchers from four to ten times per month and providing messaging costs to all applying small business owners without a personnel limit (30,000 KRW per person). It also plans to support local fishery sales expansion in collaboration with ‘Korea Dulle-gil.’
Coupang plans to leverage its accumulated expertise in sales channel development for small businesses through various cooperative exhibitions. It will establish a “Science and ICT SME Pavilion” to promote innovative small business products and support discount promotion costs.
For their rapid payment service, launched last year, Coupang will expand eligibility from open-market store owners to Rocket Growth service enrollees, which utilizes Coupang’s nationwide logistics network for storage, packaging, delivery, returns, and customer service by the end of the year.
Danggeun Market is actively connecting local shops and residents through programs such as Business Profiles, and “Danggeun Boss School,” as well as events like the “Danggeun Neighborhood Boss Awards.” They host the “Local Job Fair” to link local jobs and aim to strengthen local market revitalization through various services to boost neighborhood business sales and promotions.
The Korea Internet Corporations Association will contribute by regularly holding meetings with small business associations to ensure that symbiotic cooperation achievements can be felt across the platform industry.
Prior to this, the Ministry of Science and ICT had launched a Digital Service Public Support Task Force to enhance support for small businesses based on digital services. They plan to actively develop cooperative strategies between businesses and small businesses, beginning with this discussion.