Korea Development Bank chairman Hong Ky-ttak pledged stronger support for small and medium-sized enterprises, asking them to reinforce global innovation in entrepreneurship as a breakthrough from the low-growth tide.

“With the Korean economy facing challenges with low growth, stronger support for the promising SMEs is more compelling than ever,” Hong said in the state-run policy bank’s seasonal Business Leaders Forum held in Yeouido, Seoul, on Friday.

In addition to invigorating the figure growth engine, early implementation of corporate investment stimulation programs, which totals to 30 trillion won ($25.7 billion), the chairman added.

About 270 CEOs of KDB’s clientele attended the event to share the bank’s business know-how.

Song Jae-yong, strategy and international management professor of Seoul National University, delivered a lecture on “management strategy for Korean industries in slow economy.”

“In the short term, Korean business leaders should pay attention to the cash flow and solid managing system for their core businesses,” Song said, while suggesting options for developing new growth engines in the medium and long run.

By Chung Joo-won (joowonc@heraldcorp.com)