S . Korea antitrust chief underscores level playing field for SMEs SEOUL , Dec . 14 ( Yonhap ) -- South Korea ' s antitrust chief said Friday that a level playing field should be established for small and medium - sized enterprises ( SMEs ) to help boost the economy . In a local radio interview , Fair Trade Commission Chairman Kim Sang - jo said , " It ' s important to generate a business ecosystem which allows SMEs to move up the ladder for growth into large conglomerates such as Samsung Group Hyundai Motor Group . " The antitrust regulator has pushed forward win - win growth between conglomerates and SMEs under the Moon Jae - in government , which took office in May last year . As for the income - led economic growth sought by the Moon Jae - in government , he said the country is heading in the right direction . Companies , small or big , have complained of higher labor costs as the government raised the minimum wage to 8 , 350 won for 2019 , up 10 . 9 percent from 7 , 530 won , as part of its income - led , or consumption - led , growth strategy . In this photo taken on Nov . 27 , 2018 , FTC Chairman Kim Sang - jo listens to remarks by Prime Minister Lee Nak - yeon during a video conference call held at a government complex building in Sejong , 120 kilometers south of Seoul . ( Yonhap ) ( END )