South Korean Govt Unveils Plan to Support Women-Led Businesses

• The Ministry of SMEs and Startups launched a plan to empower women from startup to business scaling and export
• The strategy seeks to position women-owned businesses as significant contributors

The Ministry of SMEs and Startups has announced a mid- to long-term vision plan to empower women entrepreneurs across the life cycle of the business, from startup to expansion and global growth.

The vision is to make women-led corporations not only beneficiaries of social support but major players in advanced and innovative sectors and as a pillar of national economic prosperity.

On October 22, the ministry released the Second Basic Plan to Promote Women-owned Business Activities (2025–2029), which sets out a five-year policy course in technology innovation, internationalization, and deepened investment connections for women-owned corporations. This legislative plan is enshrined in Article 5 of the Act on Support for Women-owned Businesses.

The government will first target supporting women corporations in emerging technology and growth industries.

The efforts will involve finding and cultivating FemTech businesses with the help of cutting-edge technologies, such as AI, to enhance women's health and well-being, and providing support to startups in women-oriented sectors such as beauty and Foodtech.

Assistance will also be customized to various stages of development. Initiatives will reach out to women university students, potential founders, and career-experienced women.

Distinguished women entrepreneurs will be identified by initiatives that monetize startup concepts and by women's startup competitions.

In order to expand women-owned businesses, the government will establish a 10 billion won women's-only mother fund every year and offer 500 billion won annually as policy financing and new guarantees.

Successful women-owned businesses and professional investment companies will be encouraged to collaborate by increasing women investment managers and investment pitch sessions.

Kim Jeong-ju, director-general for SME strategy planning of the Ministry of SMEs and Startups, said, "Women-led corporations are a new growth engine and innovators who can resolve problems like low economic growth and population decline. Through the Second Basic Plan, we will set up and follow through on annual action plans and continue to aggressively support corporate activities and women's startups so they can fully achieve their potentials."