Seoul, Sept. 7 -- Korean business leaders have called for regulatory reforms to boost the growth of Small and Medium Enterprises (SME), as per a report by Pulse, the English service of Maeil Business Newspaper Korea.

The urge from the leaders came as it was found that only four out of every 10,000 small- and medium-sized enterprises (SMEs) in South Korea advance to mid-market status.

At the launch of the Corporate Growth Forum held in Seoul on Thursday, Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won highlighted the need to overhaul regulatory structures that, he said, are stifling business momentum at every stage of expansion.

"As long as these size-based rules remain, some firms choose to stay small or even split ...