Korea Expands Mutual Growth Index to Finance, Defense, and Online Platforms

The Mutual Growth Committee approved a plan on the 16th to introduce pilot evaluations for the finance, defense, and online platform sectors to expand a culture of cooperation beyond traditional manufacturing, according to an official announcement. The decision, reached during the 88th Mutual Growth Committee meeting at the Kensington Hotel Yeouido in Seoul, marks a shift toward evaluating a broader range of industries on their coexistence with smaller partners.

Why is the Mutual Growth Index expanding?

The committee is moving the evaluation framework beyond its manufacturing roots to cover the wider industrial landscape. This system, launched in 2011 to foster cooperation between large and small enterprises, has seen significant growth in participation. According to committee data, the number of evaluated companies rose from 56 in 2011 to 251 this year.

Chairman Lee Dal-gon stated that expanding these evaluations to new sectors like finance and online platforms is expected to serve as a catalyst for spreading the mutual growth culture across all industries.

Did You Know? The Mutual Growth Index has grown by nearly 350% in terms of company participation, expanding from 56 firms at its inception in 2011 to 251 firms in 2024.

What industries will face new evaluations?

The committee is introducing a “Mutual Growth Finance Index” targeting the six largest banks based on small business loans. This pilot program, conducted with the Financial Services Commission and the Financial Supervisory Service, will measure cooperation performance and perceived impact through surveys.

Why Mutual Funds Over Index Funds?

In the defense sector, the committee is partnering with the Defense Acquisition Program Administration to evaluate 15 defense system companies. This “Defense Industry Mutual Growth Level Evaluation” will combine specialized defense metrics with general cooperation records and survey results.

Delivery platforms and open market companies will also be subject to a new “Online Platform Mutual Growth Evaluation.” This process will analyze the cooperation records of platform firms and the actual experiences of the vendors operating on those platforms.

Expert Insight: Samantha Carter notes that by integrating these evaluations with ESG (Environmental, Social, and Governance) metrics and refining the public announcement process, the committee is likely attempting to increase the visibility and corporate accountability of non-manufacturing giants.

How are small businesses and specific products being protected?

The committee decided to maintain the “suitable industry for SMEs” recommendation for fire door manufacturing. This protection is now extended through March 31, 2029.

Additionally, the committee voted to recommend “tteokguk-tteok” and “tteokbokki-tteok” (rice cakes) as livelihood-type suitable industries for small business owners. The Ministry of SMEs and Startups will determine the final designation after a review by the deliberation committee.

To increase the overall impact of these measures, the committee plans to improve the grading system and explore ways to link the Mutual Growth Index with broader ESG evaluations.

Frequently Asked Questions

Which banks are being targeted for the new finance index?
According to the source, the pilot evaluation focuses on the six largest banks in terms of loans provided to small and medium-sized enterprises.

Until when is the fire door manufacturing protection extended?
The recommendation for fire door manufacturing as a suitable industry for SMEs is extended until March 31, 2029.

Who decides if rice cake products become protected livelihood industries?
The Ministry of SMEs and Startups will make the final decision following a review by the deliberation committee.

Do you think expanding cooperation evaluations to delivery platforms and banks will meaningfully change how these companies treat small vendors?