January 14 Venture Industry New Year's Gathering Held
On the 14th, at the 2020 Venture Industry New Year's Meeting held at the Marigold Hall of EL Tower in Yangjae, Seoul, key guests including Park Young-sun, Minister of SMEs and Startups, are participating in the New Year's ceremony.
[Asia Economy Reporter Kim Cheol-hyun] The domestic venture industry has pledged to establish itself as the center of a "Smart Korea" this year. On the 14th, five related organizations in the venture industry, including the Korea Venture Capital Association, the Korea Venture Business Association, the Korea Women Venture Association, the Korea Management Innovation Small and Medium Business Association, and the KOSDAQ Association, held the "2020 Venture Industry New Year's Greeting Meeting" at L Tower in Yangjae-dong, Seoul, and announced this commitment.
The related organizations that make up the venture industry hold a joint New Year's meeting every year to gather with their member companies and reaffirm their will for mutual growth and leap forward at the industry level. Especially this year, key laws that will open a new horizon for the venture ecosystem, such as the Venture Investment Promotion Act and the Venture Business Act, have passed the National Assembly, raising high expectations within the venture industry.
Jung Sung-in, chairman of the Venture Capital Association, the main organizer of this New Year's greeting meeting, reflected on last year by saying, "Thanks to the government's continuous interest, the small and medium venture industry grew more dynamically than ever, with venture investment exceeding 4 trillion won and the birth of five unicorn companies, bringing the total to 11, thereby enhancing global competitiveness." Chairman Jung added, "In the Year of the Rat, we will support startups and innovative companies to grow into unicorn companies in a more market-friendly venture investment environment, and all members of the venture industry will communicate and cooperate more diligently so that Korea can transform into a smart and venture powerhouse."
On the 14th, at the 2020 Venture Industry New Year's Meeting held at the Marigold Hall of EL Tower in Yangjae, Seoul, Park Young-sun, Minister of SMEs and Startups, is delivering the '2020 Policy Direction Announcement.'
About 200 people, including Park Young-sun, Minister of SMEs and Startups, Lee Jong-gu, Chairman of the National Assembly's Industry, Trade, Energy, Small and Medium Business Committee, Kim Byung-kwan, a member of the National Assembly from the Democratic Party, and other key related organizations that make up the venture ecosystem, attended the New Year's greeting meeting to send messages of support and encouragement to the venture industry. Minister Park said, "Thank you for the achievements shown by the venture industry last year, such as the birth of the 11th unicorn company and venture investment exceeding 4 trillion won. I hope the venture industry will take the lead in the era of the Fourth Industrial Revolution," she encouraged.
Announcing the 2020 policy direction of the Ministry of SMEs and Startups, Minister Park emphasized, "The Ministry has allocated a budget of 13.4 trillion won this year, a 30% increase compared to the previous year, to advance Smart Korea as a leading country in the Fourth Industrial Revolution," and stated, "We will build the world's strongest DNA (Data, Network, AI) Korea and transform into a digital economy through smart factories for SMEs, smart services for venture startups, and smart stores for small business owners." Furthermore, Minister Park said, "With the passage of the Venture Investment Promotion Act on the 9th, the venture investment market is expected to become more active," and emphasized, "The Ministry will work harder to create a freer and more market-friendly venture investment market by preparing follow-up laws such as enforcement ordinances."
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