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* Date : 2019-01-01

Arirang Special
The second leap for small and medium-sized businesses in Korea, Episode 3

The number of Korean SMEs is 3,060,882 accounting for 99.9 percent of total businesses and 15,102,747 employees are working for SMEs accounting for 90.2 percent of total employees (2015). SMEs are crucial as they are the bedrock and pillar of the Korean economy. Yet Korean SMEs are continuously facing challenges and concerns. Under the Fourth Industrial Revolution, the economic situation changes every single day. What solutions are the SMEs finding to navigate through the international trade market? 2018 ArirangTV produced[Korean SMEs, Taking a Second Leap Forward] as we visited and searched the potentials of Korean SMEs who are preparing to take another leap forward by pioneering the market with the spirit of taking challenges.

Thanks to the Korean wave, the K-beauty industry is rising. In Episode 3, we visited Innopharm who is getting ready to become a global cosmetic brand. The dermatologist who studied biotechnology realized the need to develop a product while working in a hospital and launched Dr. Lim’s, a skincare product combined with science where nutrients can penetrate into the dermis. The brand is vigorously expanding through duty-free shops and exhibitions. Meet the advanced science combined with skin, leading the K-beauty.

Next, we visited KAN company who launched Viewscent, a car air freshener, providing various scents made with safe ingredients. Going beyond Korea, KAN company is entering the global market. Other air freshener products for cars normally just cover up the smell so the types of scent are quite limited. But KAN company’s Viewscent develops various types of scent to meet the individuals’ taste. Consumers don’t have to worry about spilling when they slam on the brakes as the products are a solid type stick. Let’s look deeper into KAN company who expressed its ambitions of becoming the BTS of SMEs with its trend leading products.

SMEs are striving in various fields. What steppingstones should be prepared for SMEs so that they can further expand their potentials in the global market? [The second leap for small and medium-sized businesses in Korea] is searching for answers.

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