A small-medium enterprise (SME) is defined by its number of permanent workers, assets, sales, etc. and by the specifications of its industry. If it meets the requirements and standards as stipulated in the Enforcement Decree of the Framework Act on Small and Medium Enterprises, it is eligible to receive benefits regarding the promotion of SMEs.
Requirements stipulated in the Enforcement Decree of the Framework Act on Small and Medium
| Type of Business | Size Requirement |
| 1. Manufacturing | Less than 300 permanent workers or Less than KRW 8 billion capital |
| 2. Mining, construction, transportation | Less than 300 permanent workers or Less than KRW 3 billion capital |
| 3. Large-scale retail, hotel Information management and other computer- related operation | Less than 300 permanent workers or Less than KRW 30 billion in sales |
| 4. Seed and sapling production, fishery Electricity, gas, water works Wholesale of fuel and related products Operation of recreational condominiums Travel agency, storage and transportation-related service Communication, engineering service Hospitals, film industry, broadcasting | Less than 200 permanent workers or Less than KRW 20 billion in sales |
| 5. Wholesale and product agency, mail-order selling Visiting sales, leasing machinery for commercial use Professional, scientific and technological service Business-supporting service, performance News provider Operation of recreation and amusement parks Sewage and waste management, cleaning service | Less than 100 permanent workers or Less than KRW10 billion in sales |
| 6. Others | Less than 50 permanent workers or Less than KRW5 billion in sales |
However, exceptions are made in the following cases:
– Companies with over 1,000 permanent workers;
– Corporations with over KRW 500 billion in total assets (referring to the total assets in
the balance sheet of the last day
of the most recent business year) pursuant to Art. 2 of the Security Transactions Act.
