As Asia-Pacific economies confront rapid digital disruption, small and medium-sized enterprises are increasingly central to Asia-Pacific’s innovation and finance agenda. In Jeju, Korea convened the APEC SME Innovation Forum 2025, gathering policymakers, global institutions, and industry leaders from 21 economies to explore how digital tools, financial models, and cross-border cooperation can redefine the growth trajectory of SMEs worldwide.
APEC SME Innovation Forum 2025 Opens in Jeju
South Korea has placed digital transformation at the center of the Asia-Pacific’s SME agenda with the launch of the 2025 APEC SME Innovation Forum in Jeju.
Held on September 1 at the Jeju International Convention Center, the forum marked the first official program of the five-day APEC SME Ministerial Meeting (APEC SME Week 2025) and brought together over 200 participants from 21 member economies, including government delegations, academics, and business leaders.
The event was hosted by the Korea SMEs and Startups Agency (KOSME), under the Ministry of SMEs and Startups (MSS), with a sharp focus on how SMEs can adapt to the digital era and strengthen resilience in global markets.
Four Sessions on Transformation, Finance, and Cooperation
The forum unfolded across four structured sessions:
- The current status and challenges of SME digital transformation.
- Financial innovation through policy finance and private-sector collaboration.
- The advancement of digital finance and SME innovation strategies.
- Cooperative pathways among APEC member economies.
Key speakers included Vorapoj Prasanpanich, Deputy Director-General of Thailand’s Office of SME Promotion; Zaki Khoury, Senior Digital Development Specialist at the World Bank; Professor Cho Hang-jung from KAIST’s School of Management of Technology; and Choi Sung-wook, CEO of cross-border payments firm Sentbe.
Vorapoj Prasanpanich presented strategies for narrowing SMEs’ digital divide, while Zaki Khoury highlighted the skills and infrastructure needed to strengthen digital capacity in the AI era. Companies in attendance responded with particular interest, noting the alignment of the discussions with challenges they face in their own operations.
Side Programs: Startups, K-Beauty, and Policy Training
In parallel, KOSME organized side programs to showcase Korea’s SME ecosystem to international delegations.
These included:
- A K-Startup Info Session with global expansion strategy seminars and IR pitching.
- A K-Beauty product showcase, highlighting Korean consumer innovation.
- Policy training workshops, introducing Korea’s SME support models.
The initiatives aimed both to present Korea’s policies and products to APEC members and to broaden the foundation for Korean SMEs to expand overseas.
APEC SME Innovation Center: 20 Years of Cooperation
The day concluded with a ceremony marking the 20th anniversary of the APEC SME Innovation Center.
Established by joint declaration at the 2005 APEC SME Ministerial in Daegu and operated by KOSME since 2009, the center has served as Korea’s only hub dedicated to supporting innovation-driven SME growth and cross-border cooperation within the APEC region.
Digital Transformation as Imperative
KOSME Chairman Kang Seok-jin underscored the urgency of the agenda:
“Digital transformation is no longer optional but an essential task for SMEs. This forum provided a meaningful venue for member economies to share future visions and identify concrete pathways for cooperation.”
Strengthen Korea’s Reputation as Innovation Hub and Advance SMEs into Global Market
By leading the APEC dialogue on digital transformation and financial innovation, Korea is positioning its startup and SME ecosystem as a regional benchmark. The inclusion of global institutions such as the World Bank, alongside policymakers and entrepreneurs from 21 economies, underscoring a shift toward cooperative frameworks that emphasize performance and shared digital capacity-building.
For Korea, the event reinforced its dual strategy: advancing its own SMEs into international markets while strengthening its reputation as a hub for policy innovation, digital finance, and cross-border startup growth in the Asia-Pacific.
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