APEC SME. Innovation Center. Annual Report 09-10

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1 Innovation Center Annual Report 09-10

Contents 3 Dear Reader - Ignite SME Innovation, Generate Inclusive Growth 4 Achievements in 2009-2009 Innovation Seminar Held in Seoul - Innovation Consulting - Korea-Japan Business Match-Making

2 Contents 3 Dear Reader - Ignite SME Innovation, Generate Inclusive Growth 4 Achievements in Innovation Seminar Held in Seoul - Innovation Consulting - Korea-Japan Business Match-Making Session - Successful Case of e-business Cooperation - Daegu Initiative Assessment & 3 Champions - SMEWG Chair Visits SBC for SME Innovation Support - New Brochure & Annual Report Published - Innovative Portal & Newsletter 9 Work Program for Innovation Seminar - Innovation Education Workshop - Innovation Consulting - Dispatch of Korean SME Policy Specialists - Korea-Japan SME Business Matchmaking - Communication Portal & Newsletter 12 About SBC - Best Partner for SMEs 14 Member Economies

Dear Reader Ignite SME Innovation, Generate Inclusive Growth It is a privilege for me to have this opportunity to highlight the innovation activities in 2009 and explain the path we will take in 2010

3 Dear Reader Ignite SME Innovation, Generate Inclusive Growth It is a privilege for me to have this opportunity to highlight the innovation activities in 2009 and explain the path we will take in 2010 in our common efforts to realize the SMEIC mission: promoting economic activities and co-prosperity in APEC by facilitating SME innovation. Last year, despite the hardships amid a global economic crisis, we continued to energize innovation, fueling innovative entrepreneurship in member economies. Designed to generate a pool of SME innovation expertise, we held related APEC workshops and carried out a pilot innovation consulting project to reinforce SME innovation capacity and serve as a platform for the expansion of regional networks. Showcasing the efforts to generate opportunities for innovative SMEs to access new markets, we hosted two fruitful events - Korea-Japan SME Business Matchmaking and Korea-China e-business Cooperation activities. This year, we are committed to making full efforts to upgrade the innovative drive of regional SMEs. The 2010 program includes Innovation Seminar, Innovation Education, Innovation Consulting, Korea-Japan Business Matchmaking and IC website updates. Nowadays, we have directed special attention to a new paradigm -- inclusive growth, which was raised on the agendas of the G20 and APEC at the close of It can be said that the economic crisis served as a catalyst to bring collective awareness to the need for inclusive growth alongside sustainable growth. Wishing all APEC member economies a tigerish take-off in the New Year, I solicit your continued interest and support for the Innovation Center and its secretariat staff. Sincerely yours, Lee Ki-Woo President SBC Innovation Center 3

Achievements in 2009 2009 Innovation Seminar Held in Seoul Innovation Consulting Korea-Japan Business Match-Making Session Successful Case of e-business Cooperation Daegu

4 Achievements in Innovation Seminar Held in Seoul Innovation Consulting Korea-Japan Business Match-Making Session Successful Case of e-business Cooperation Daegu Initiative Assessment & 3 Champions SMEWG Chair Visits SBC for SME Innovation Support New Brochure & Annual Report Published Innovative Portal & Newsletter 4 Innovation Center

Achievements in 2009 2009 Innovation Seminar Held in Seoul Hosted by the Small and Medium Business Adminstration (SMBA) and the Innovation Center of the Small & medium Business Corporation (SBC), the

The main objective of the four-day APEC SME innovation seminar was the sharing of information, including APEC member governments' SME support policies to overcome the ongoing global economic crisis.

5 Achievements in Innovation Seminar Held in Seoul Hosted by the Small and Medium Business Adminstration (SMBA) and the Innovation Center of the Small & medium Business Corporation (SBC), the '2009 APEC SME Innovation Seminar' was held August 25~28 at the COEX InterContinental Hotel in Seoul. The main objective of the four-day APEC SME innovation seminar was the sharing of information, including APEC member governments' SME support policies to overcome the ongoing global economic crisis. High-level government officials of 21 APEC member nations in charge of SME policy and experts in the SME field, including I. Wayan Dipta, Advisor, The Office of State Minister for Cooperation and SME, Indonesia, participated in the seminar held under the theme Innovation in SME Financing and Marketing. The seminar program was composed of a keynote speech on survival strategies for SMEs in the global economic crisis, presentations on SME innovationrelated policies and practices, a lecture on the assessment framework for the Daegu Initiative on SME IAPs, etc. On the last day, in particular, a networking roundtable meeting took place to discuss opportunities for mutual cooperation among the seminar representatives of respective countries, Peruvian Ambassador to Korea Marcela Lopez Bravo, commercial attaches of APEC member nations, and CEOs and representatives of Korean SMEs and SME-related organizations. Innovation Consulting The Innovation Center provided SME innovation consulting to four economies - Indonesia, the Philippines, China and Vietnam. The consulting program was designed to provide practical insights and inspiration leading to successful innovation of the beneficiary economies. Based on Korean experience and expertise, the program, tailored to the specific situation and requirements of each beneficiary, was conducted for local and Korean companies active in the region. The comprehensive innovation consulting program features the dispatch of specialists, indepth analysis of overall management procedures and technology applications to provide practical solutions for improvement and assist in the implementation of a development roadmap jointly with the beneficiary enterprises. Innovation Center 5

Achievements in 2009 Korea-Japan Business Match-Making Session The Small & medium Business Corporation (SBC) dispatched Korean SMEs to the 'Korea- Japan Business Match-Making Session' held on July 2

A total of 144 representatives from 104 SMEs from Korea and Japan participated in the match-making session and harvested 157 cases of business talks, which are expected to lead to conclusion of about

6 Achievements in 2009 Korea-Japan Business Match-Making Session The Small & medium Business Corporation (SBC) dispatched Korean SMEs to the 'Korea- Japan Business Match-Making Session' held on July 2 at the Shinagawa Prince Hotel in Tokyo. A total of 144 representatives from 104 SMEs from Korea and Japan participated in the match-making session and harvested 157 cases of business talks, which are expected to lead to conclusion of about US$50 million worth of contracts. SBC screened 25 Korean SMEs from the 43 that had undergone its first documentary examination after a fact-finding investigation and collection of opinions from local advisors in Japan. Due to individual company situations, etc., however, 25 SMEs were finally selected and participated in the session. During the event, which was promoted as part of a Korea-Japan SME cooperation project, the participating Korean SMEs realized business discussions with more than 100 Japanese companies owing to cooperation from related Japanese organizations, such as the Small and Medium Enterprise Agency (SMEA), Organization for Small and Medium Enterprises and Regional Innovation (SMRJ), Chamber of Commerce and Industry and Japan External Trade Organization (JETRO). SBC plans to continue to follow-up with those SMEs that participated in the session and to actively support them through implementation of a fact-finding survey to check the progress in detail by company and to identify required support. Successful Case of e-business Cooperation Aiming to create a successful model for SME innovation by establishing a consistent market economic environment, the Innovation Center is looking to produce momentum from e- business cooperation between Korea and China. This program features mutual linkage of the Korea-China Product Information Network and establishment of a Korea-China SME e-business cooperation corner. Exploiting the advantages of digital convergence, networking and clustering of innovative SMEs, the program links networks of the two countries, Korea s Gobizkorea site ( and China s as well as the launch of the Korea- China Online Trade Corner. The latter forum links the SME product information networks of the two countries and provides a platform for Online Trade and Trade Data Room. 6 Innovation Center

Achievements in 2009 Daegu Initiative Assessment & 3 Champions Korea, along with the United States and Peru, was picked as a champion economy in the SME innovation area, according to a joint

Commending Korea for the initiatives undertaken by the Innovation Center in facilitating SME innovation in the region, ministers recognized the importance of the Daegu Initiative and supported the

7 Achievements in 2009 Daegu Initiative Assessment & 3 Champions Korea, along with the United States and Peru, was picked as a champion economy in the SME innovation area, according to a joint statement of the th APEC Small & Medium Enterprises Ministrial Meeting held in Singapore Oct Commending Korea for the initiatives undertaken by the Innovation Center in facilitating SME innovation in the region, ministers recognized the importance of the Daegu Initiative and supported the need for a selfassessment of members' innovation activities to provide best practice examples for the Daegu Initiative. Ministers noted the relevance of the Daegu Initiative to the innovation priority area of the Strategic Plan. In this regard, ministers acknowledged that cochampions Korea, Peru and the United States, in working jointly to review and plan for future initiatives, would achieve more effective outcomes for SMEs in member economies. And this will serve as the basis for determining whether to pursue a second cycle of the initiative. The move followed Korea's presentation of a proposal at the SMEWG Oct. 5-6 calling for organizing a Daegu Initiative Review Committee as the next SMEWG action. Furthermore, ministers commended "SME Innovation Seminar on Innovation in SME Financing and Marketing" as an initiative to help position SMEs for growth after the crisis. SMEWG Chair Visits SBC for SME Innovation Support PNG Cheong Boon, Chair of APEC Small & Medium Enterprises Working Group (SMEWG), visited SBC, which is the secretariat of SMEIC, on April 30, meeting Lee Ki-Woo, SBC president, to discuss innovation and knowledge & information exchanges between the two organizations. PNG Cheong Boon is concurrently chief executive of SPRING Singapore. The two sides exchanged opinions on policy and financial measures to support creative SMEs combating the global economic crisis. On April 29, the WG chair met Hong Suk- Woo, Administrator of Small & Medium Business Administration (SMBA), and other SMBA and SBC officials, where he praised the role of Innovation Center. He said that he would make an effort to participate in the 2009 SME Innovation Seminar, scheduled for Aug in Seoul. Innovation Center 7

Achievements in 2009 New Brochure & Annual Report Published The Innovation Center has published a new brochure and annual report for 2008-2009.

Highlighted contents of the brochure, titled Promoting Sustainable Co-Prosperity in the APEC Region Through SME Innovation, are Vision & Mission, Key Milestones, Track Record, Business Plan for 2009,

8 Achievements in 2009 New Brochure & Annual Report Published The Innovation Center has published a new brochure and annual report for The publications are a result of the Innovation Center's renewed efforts to facilitate communication among regional economies. Highlighted contents of the brochure, titled Promoting Sustainable Co-Prosperity in the APEC Region Through SME Innovation, are Vision & Mission, Key Milestones, Track Record, Business Plan for 2009, etc. The annual report features Achievements in 2008, Work Program for 2009 and About SBC, which took over the Center's secretariat role from the Korea Technology and Information Promotion Agency for SMEs (TIPA) as of Jan. 1, In the foreword of the annual report, Hong Suk-Woo, SMBA Administrator, emphasizes that the innovation movement is sure to provide the right prescription to stimulate the regional economy in these trying times. On the strength of active cooperation and collaboration among the APEC economies, I believe that the SME innovation drive will 'move the mountain' to take advantage of the opportunities created by a rapidly changing, globalizing marketplace, Hong said. Innovative Portal & Newsletter The secretariat redoubled efforts to facilitate communication among regional member economies. The information content of SMEIC's homepage ( was expanded by eightfold last year compared with the preceding year. These measures led to a strong 9.72% increase in the number of website visitors. The platform of the semiannual newsletter was upgraded to a more reader-friendly format featuring both PDF and HTML versions. Designed to facilitate improved communication, the upgrade is part of the secretariat s pursuit of ubiquitous five-any access - anytime, anywhere, any device, any network, any service. 8 Innovation Center

Work Program for 2010 2010 Innovation Seminar Innovation Education Workshop Innovation Consulting Dispatch of

9 Work Program for Innovation Seminar Innovation Education Workshop Innovation Consulting Dispatch of Korean SME Policy Specialists Korea-Japan SME Business Matchmaking Communication Portal & Newsletter Innovation Center 9

Work Program for 2010 2010 Innovation Seminar The Innovation Center (SMEIC) will host the 2010 APEC SME Innovation Seminar on June 7 (tentative date) in Hong Kong, linked with the meeting of the

The central Asian venue and timing were chosen to maximize convenience for participation in the seminar, which is being designed to generate opportunities to improve APEC members capacity to

In particular, the seminar participants are expected to decide whether to pursue a second cycle of the Daegu Initiative on SME Innovation Action Plan.

10 Work Program for Innovation Seminar The Innovation Center (SMEIC) will host the 2010 APEC SME Innovation Seminar on June 7 (tentative date) in Hong Kong, linked with the meeting of the Working Group in the same city. The central Asian venue and timing were chosen to maximize convenience for participation in the seminar, which is being designed to generate opportunities to improve APEC members capacity to implement and assess SME policies through the sharing of related information and experiences. In particular, the seminar participants are expected to decide whether to pursue a second cycle of the Daegu Initiative on SME Innovation Action Plan. Innovation Education Workshop This year s innovation education workshop will focus on the presentation of Korea s expertise and experience in SME development. Inviting policymakers and entrepreneurs, the forum aims to provide lessons in development that can eventually be tailored to specific models that match the environments in each economy in the region. The main content of the workshop will be presentations on Korean SME support policies as well as on Korean economic development history. These will be followed by an open discussion of SME innovation policy cases of the participating economies. During the workshop period, organizers will offer site visits to SME-related organizations and promising SMEs and venture companies as well as Korean culture tours of a folk village, traditional markets, etc. Innovation Consulting One of the primary missions of the Center is to provide technology management analysis and consulting with the dispatch of specialists in the required fields to SMEs in developing countries throughout the region. Based on intensive and extensive analysis of pilot innovation consulting projects conducted in Indonesia, the Center will expand its projects in terms of scope, quality and beneficiary economies. The comprehensive innovation consulting program features the dispatch of specialists, in-depth analysis of overall management procedures and technology applications to provide practical solutions for improvement and assist in the implementation of a development roadmap jointly with the beneficiary enterprises. 10 Innovation Center

Work Program for 2010 Dispatch of Korean SME Policy Specialists The program to dispatch Korean SME specialists to developing economies in the region is designed to offer Korean economic and SME

A team of policy specialists and professionals will be composed based on the research and needs analysis and dispatched to conduct on-site surveys and write related reports.

About 20 Korean small and medium enterprises will be selected to participate in the bilateral business matchmaking session with prospective partners from the neighboring economy.

11 Work Program for 2010 Dispatch of Korean SME Policy Specialists The program to dispatch Korean SME specialists to developing economies in the region is designed to offer Korean economic and SME development experience that helps policymakers and supports development plans. The program features research and analysis tailored to the needs of each economy. A team of policy specialists and professionals will be composed based on the research and needs analysis and dispatched to conduct on-site surveys and write related reports. Korea-Japan SME Business Matchmaking A Korea-Japan Business Matchmaking Session will be held to generate opportunities for innovative SMEs to access new markets. About 20 Korean small and medium enterprises will be selected to participate in the bilateral business matchmaking session with prospective partners from the neighboring economy. The Korean side will conduct a collective education session for the Korean participants in order to help them successfully generate new business collaboration with their Japanese counterparts. The two sides will give presentations on potential areas for collaboration in a prelude to specific one-on-one business discussions. The company-by-company results from the session will be analyzed for appropriate follow-up measures. Communication Portal & Newsletter The Center will continue to upgrade its portal ( to facilitate 24-hour round-the-clock communication among APEC SMEs engaged in innovation. The content will be reinforced to focus on real-time updates of innovation activities and to serve as a knowledge generator to fuel the progress of SME innovation in the region. Of particular note, the advantages of networking and clustering for innovation will be applied to website operation. For example, crossborder links with technology-transfer-related organizations will be utilized to strengthen the foundation for global cooperation of APECmember economies. Innovation Center 11

About SBC Best Partner for SMEs SBC provides a wide range of services to help Korean Small and Medium-sized Enterprises (SMEs) start-up, run, and grow their businesses.

12 About SBC Best Partner for SMEs SBC provides a wide range of services to help Korean Small and Medium-sized Enterprises (SMEs) start-up, run, and grow their businesses. Programs are divided into Financial and Non-financial Programs. To effectively discover and innovate Korean SMEs, SBC provides them with comprehensive one-stop and package-deal assistance through the New Modernization Program. SBC at a Glance Established: January 1979 Non-profit government agency FY2009 Budget: USD 7.6 billion 18 Departments, 23 Regional Offices, 21 International Networks, 761 Employees Financial Programs Providing Capital Where It Counts the Most As its primary financial function, SBC provides timely loans to SMEs, which are used for the enhancement of their productivity as well as to aid business innovation. The beneficiaries are expected to improve their business structures into future-oriented models and strengthen their competitiveness, so as to play a key role in the 21st century. - Venture Business Start-up Provides financing for venture firms in their startup and early growth stages. - Commercialization of R&D Results Provides financing for the commercialization of intellectual property and R&D results. - Promotion of the New Growth Industry Provides financing for innovative SMEs in hightech and low-carbon industry sectors to improve their competitiveness. - Local Industry Development Program Provides financing for local SMEs to support their regional economies to ensure balanced development of Korea. - Issuance of ABS Provides SMEs with direct financing opportunities by subscribing to ABS issued in domestic and global capital markets. - Trade Adjustment Assistance Provides financing and consulting to SMEs that are adversely affected by increases in competing imported products. - Debt Equity Swap SBC provides SMEs with opportunities to improve their financial structure by converting loans into capital. - Management Stabilization Provides financing to SMEs for raw material purchases, export working capital and damage recovery. - Business Conversion Provides financing and consulting assistance through the Enterprise Restructuring Program to allow SMEs to adapt to today s dynamic global economy. 12 Innovation Center

- Business Clusters Provides financing to Korean SMEs and suppliers in a particular field to form interconnected business clusters.

along with its financial program, serves the ever- diversifying needs of current day SMEs.

- Consulting Service/Business Innovation Comprehensive Corporate Diagnosis A 360-degree diagnosis is used to design a more accurate troubleshooting program that engages various

com Business Matchmarking Assistance: www.bizmatchkorea.

13 - Business Clusters Provides financing to Korean SMEs and suppliers in a particular field to form interconnected business clusters. - Business Collaboration Provides financing to groups of Korean SMEs specializing in R&D, manufacturing, design and marketing to work jointly towards developing and marketing products. Non-Financial Programs Connections & Competency Building From industrial complexes to overseas marketing channel development, SBC has an expansive non-financial program, which, along with its financial program, serves the ever- diversifying needs of current day SMEs. Living up to its name as the general hospital for small businesses, entrepreneurs can find vital assistance in networking, training, and international business programs at SBC. - Consulting Service/Business Innovation Comprehensive Corporate Diagnosis A 360-degree diagnosis is used to design a more accurate troubleshooting program that engages various programs and consultants. - Marketing Assistance Program Korea Business Development Centers (KBDC) Dispatch of Trade Delegations Internet SME Pavilion: Business Matchmarking Assistance: Global Network Program SME Global Branding & Marketing Program - Information Service & IT Promotion Timely dissemination of information ranging from research studies, new management strategies to policy analyses, and much more. Magazines published by SBC: GIUPNARA, Tech Times SME Data Bank (Knowledge Sharing Community) - Global Cooperation Program A two-fold, domestic and international, approach to providing industrial cooperation opportunities for entrepreneurs worldwide. SBC also supports Inter-korean Economic Cooperation between South and North Korea Innovation Center Innovation Center 13

Philippines Russia Singapore Chinese Taipei Thailand United States Viet Nam 11-12 Nov 1994 12-14 Nov 1991 12-14

14 Member Economies APEC Members Date of Joining Australia Brunei Darussalam Canada Chile People's Republic of China Hong Kong, China Indonesia Japan Republic of Korea Malaysia Mexico New Zealand Papua New Guinea Peru Philippines Russia Singapore Chinese Taipei Thailand United States Viet Nam Nov Nov Nov Nov Nov Nov Nov Nov Nov Innovation Center

15 Small Business Corporation 24-3 Yeoeuido-dong, Yeongdeungpo-gu, Seoul, Korea Tel /6703/6859 Fax

16 Small Business Corporation (SBC) 24-3, Yeoeuido-dong, Yeongdeungpo-gu, Seoul, Korea Tel: /6703/6859 Fax:

2007 Daegu Initiative

2007/SMEWG25/009 Agenda item: 9 2007 Daegu Initiative Purpose: Information Submitted by: Korea 25 th Small and Medium Enterprises Working Group Meeting Bali, Indonesia 28-30 August 2007 2007 Daegu Initiative