SMEs - the key to creation of new jobs

We all know that a great deal of jobs are created by SMEs and still many governments believe that large enterprises, together with public organizations,  are the base for employment. In South Korea an article in the Korea Herald gives us some interesting perspectives on the situation there - not only for the enterprises themselves but also for the individuals working in them. 

"In 2014, small and midsized enterprises accounted for 99.9 percent of the total number of local businesses, hiring nearly 88 percent of workers, showed figures from the Korea Federation of SMEs."

As reported in the Korea Herald there is a wage gap between the larger enterprises and the SMEs. 
"“The country’s labor market is divided into the first league of large corporations and regular jobs and the second league of SMEs and irregular jobs,” said Bae Kyu-shik, a researcher at the Korea Labor Institute, a state-run think tank."

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Read the article in the Korean Herald

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