Muheop - Assemblyman Jeong Taeho Holds Venture and Startup Meeting

[Asia Economy Reporter Hwang Yoon-joo] The Korea International Trade Association and Jeong Tae-ho, a member of the Democratic Party of Korea, announced on the 23rd that they held a "Venture and Startup Ecosystem Innovation Measures Meeting" at the Small and Medium Business Hall in Yeouido.

Hosted by Representative Jeong Tae-ho and organized by the Innovation Growth Headquarters of the Trade Association, the meeting was attended by about 20 domestic startups, who shared opinions on ways to activate innovative startups and promote scale-up and globalization even amid the COVID-19 pandemic.

Companies such as Huino, Bomap, Seoul Robotics, VisualCamp, Luxrobo, Wayne Hills Ventures, Toss Lab, and Twiny requested institutional improvements to enable large corporations and public institutions to more actively utilize startups' innovative technologies and services. They also raised various regulatory issues, including standardization of diverse communication protocol compatible with robots, deregulation in the cybersecurity sector, and expedited approval of healthcare and AIoT (Artificial Intelligence + Internet of Things) products.

To promote cooperation between large corporations and startups, opinions were also presented that various incentives should be provided to large corporations offering testbed opportunities to startups, such as additional points in the win-win growth index and relaxation of operating day restrictions for complex shopping malls. Ideas were also proposed to expand collaboration with public institutions, including improvement of procurement procedures, expansion of exemption for proactive administration by local governments, opening of public market cloud for fostering non-face-to-face industries, and expansion of support for eco-friendly social venture companies.

Representative Jeong Tae-ho of the Democratic Party of Korea stated, "Even as our economy faces difficulties in both domestic demand and exports due to COVID-19, startups are making significant contributions to overcoming the pandemic and creating jobs through innovative growth by developing new technologies and products," adding, "We intend to listen to the difficulties startups face in entering domestic and overseas markets and seek solutions."