New minister for small and midsized firms takes office

▲ Oh Young-ju, the new minister of small and medium-sized enterprises and startups, speaks at a meeting with a startup in southern Seoul on Jan. 1, 2024, in this photo provided by her office. (PHOTO NOT FOR SALE) (Yonhap)

SMEs minister-inauguration

New minister for small and midsized firms takes office

SEOUL, Jan. 2 (Yonhap) -- The new minister for small and midsized firms and startups took office Tuesday with a pledge to bolster the financial safety net for small merchants.

Oh Young-ju, a veteran diplomat who served as the second vice minister for foreign affairs before she was appointed to the post, made the remarks at an inauguration ceremony earlier in the day.

Oh said the ministry should put its top priority on "strengthening the financial safety net for small merchants," citing their dire situations over high interest rates and an economic slowdown.

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