The Korea Federation of SMEs (KBIZ) was established in 1962 to protect the rights and interest and improve the economic status of 3.55 million Korean SMEs, and promote the balanced development of national economy under the government's first policy to foster small and medium enterprises of Korea.
KBIZ has dedicated itself to supporting the activities and hopes of Korean SMEs that account for 99% of the total number of companies and 90% of the number of employees, and made a history of SMEs and Korean economy by creating an economic environment where SMEs can fully engage in business activities and by strengthening their status.
KBIZ has made efforts to build an economic environment for Korean SMEs where they can focus on their business by carrying out activities to establish an integrated organization of SMEs, protect their rights and interests, achieve mutual growth between large and small companies and economic democratization, provide restrictions on super supermarkets (SSMs), establish principles of fair trade, and introduce businesses proper to SMEs.
KBIZ is also doing its best to enhance the status of SMEs and support their stable management by launching and operating a series of programs and institutions including Korea SMEs Contest, the nation's sole SME history museum, SME Love Sharing Foundation to expand their contributions to the society, Small and Micro Business Support Policy System (yellow umbrella deduction system) serving as a social safety net for small and micro business owners, deduction project funding, and (performance-based) guarantee deduction system.
KBIZ will constantly challenge itself to become the best economic organization in Korea that improves values of SMEs and cooperatives, supports them to create happiness, and fulfills the social responsibility. In the meantime, we will spare no effort to provide a desirable economic environment for SMEs, the backbone of Korean economy, by developing policies and offering services that meet their needs at site, with the aim of creating a market economy heading for the right direction centering on small and large enterprises.