[Recording available] Supporting SMEs and businesses during the COVID-19 pandemic

Connecting Business initiative Secretariat
Event date 23 Jul '20 20:30 - 21:30
Event location Online - Korea time

UNDP Seoul Policy Centre (USPC) in partnership with the ROK Ministry of Trade, Industry and Energy (MOTIE) and the Korea International Trade Association (KITA) shared concrete examples from ROK on the i) impact of COVID-19 on businesses, industries and SMEs; ii) government measures such as financial and tax support, loans and investment for SMEs and businesses during the pandemic; and iii) the private sector’s response to mitigate and manage risk. It also introduced UNDP’s response and programmes to support SMEs.

Programme/Speakers

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  • Soonmok Kwon, Team Leader, Industrial Policy Division, ROK MOTIE: Impact of COVID-19 on Korean businesses thus far, and ROK government’s policies to support businesses, especially heavily impacted industries and SMEs, during and after the pandemic.

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  • Jae-Hyung You, CEO, SolGent (Korean SME and producer of COVID-19 test kits): Measures taken to turn the crisis into an opportunity and support the company has received from government that helped mitigate the challenges.

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  • Jaeho Choi, General Manager, Hyundai Motor Group: Investments in the company’s global or domestic value chain or as CSR activities, to support SMEs (e.g. co-financing with the government to create a guarantee fund to support auto parts makers).

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  • Q&A Session

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Related resources:

 

Report: Safeguarding economic resilience: In responding to the economic impact of COVID-19 (ROK Ministry of Economy and Finance, 11 Jun 2020)

Video recording: Special Webinar on COVID-19: K-economic Measures (English/French/Spanish) (ROK government ministries, 20 Jun 2020)

Poster: Comprehensive Economic Policy Response to the COVID-19 Pandemic (ROK Ministry of Economy and Finance, 20 Apr 2020)

Report: Responding to COVID-19 - Emergency Employment Measures (ROK Ministry of Employment and Labor, 20 May 2020)

Booklet: Korean New Deal: National Strategy for a Great Transformation (ROK Ministry of Economy and Finance, 20 Jul 2020)

Source: United Nations Development Programmes

Photo: UNDP Turkey