I would like to receive legal advisory for small and medium-sized enterprises; may I make an inquiry?

A 'small or medium-sized enterprise' means an enterprise or cooperative that is the subject of small and medium-sized enterprise policy, and the like.

Under Article 2 of the Framework Act on Small and Medium Enterprises, the scope of small and medium-sized enterprises is prescribed.

Scope of small and medium-sized enterprise operators

1. An enterprise that meets both of the following requirements and conducts business for profit

a. The sales by business type must be below a certain amount, and the total assets must be 500 billion won or less

b. The substantial independence of management, such as equity ownership, must meet certain criteria

2. Among social enterprises under the Social Enterprise Promotion Act, a social enterprise that does not have profit-making as its main purpose and that meets both the size criteria and the independence criteria

3. Under the Framework Act on Cooperatives, cooperatives, cooperative federations, social cooperatives, social cooperative federations, and heterogeneous cooperative federations that meet all of certain requirements

4. Under the Consumer Cooperatives Act, cooperatives, federations, and national federations that meet certain requirements

Because the governing statutes are intricately intertwined in this way, you can confirm the details through legal advisory for small and medium-sized enterprises.

If it is legally recognized as a small or medium-sized enterprise, it may become eligible for government startup support programs and policy fund loans provided by the government, such as by the Ministry of SMEs and Startups.

In order to confirm in detail whether it qualifies as a small or medium-sized enterprise, several things must be reviewed.

You must consider together whether your enterprise is for profit, whether its annual sales or average sales meet certain criteria, and whether its total assets do not exceed the applicable range.

In order to determine this accurately, we recommend examining the details through legal advisory for small and medium-sized enterprises.