"Venture Entrepreneur's New Donation Culture Creation is Meaningful... Hope to Become the Foundation for an Inclusive Society" (Update)

Shin Hyun-soo, Senior Secretary for Civil Affairs, Attends Meeting... Stares Ahead Without Dialogue

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] President Moon Jae-in described the wave of donations from venture company founders such as Kakao and Baedal Minjok as a "fresh shock," praising it as "very meaningful as it is creating a new culture of giving." He did not comment on Senior Secretary for Civil Affairs Shin Hyun-soo, who attended the senior secretaries and aides meeting for the first time since announcing his resignation and returning.

At the senior secretaries meeting held at the Blue House on the afternoon of the 22nd, President Moon said, "We send a big round of applause together with the people for those who have self-made wealth and generously give it back to society."

This was in response to recent announcements that Kim Bong-jin, founder of Baedal Minjok and chairman of Woowa Brothers, donated more than half of his assets, and Kim Beom-su, founder of Kakao, also declared he would donate more than half of his estimated 10 trillion won fortune.

President Moon said, "The spread of socially responsible management by companies along with the donation culture of innovative entrepreneurs is also a positive change," adding, "I hope the actions of venture entrepreneurs and businesspeople will serve as a foundation for our society to become more inclusive and dignified through social solidarity funds and other means."

President Moon also praised venture companies as the main drivers of our economy's dynamism. He emphasized, "The main actors demonstrating the dynamism of our economy are undoubtedly venture startups. The number of unicorn companies valued at over 1 trillion won has increased by 10 to 13 during our administration, and the number of prospective unicorn companies is also rapidly increasing."

He continued, "The driving force behind the stock market's growth, which ushered in the era of a 3,000-point stock index, is also venture companies," adding, "The government will focus on nurturing venture startups as the leading force of a forward-looking economy while promoting the 'Korean New Deal' and '2050 Carbon Neutrality' as national strategies."

He also noted that the number of employees in venture companies has surpassed that of the four major conglomerates, indicating a shift in the employment axis toward venture companies. "By fostering third-generation innovative companies based on digital and non-face-to-face platforms and actively promoting venture powerhouse projects such as the 'K-Unicorn Project,' we will ensure that venture startups stand at the center of economic advancement," he said.

[Image source=Yonhap News]

He also emphasized the importance of vaccination and quarantine measures starting this week. President Moon said, "Ensure that vaccinations are carried out quickly, safely, and systematically according to priority groups such as workers and residents of nursing hospitals and facilities," adding, "Even after vaccinations begin, there must be no negligence in quarantine measures."

He continued, "The government will also focus all efforts on blocking the spread by conducting intensive inspections of workplaces and facilities where COVID-19 outbreaks have recently occurred," adding, "Since in-person classes for elementary, middle, and high schools are scheduled to begin next week, I hope everyone maintains heightened vigilance and thorough quarantine management."

Meanwhile, Senior Secretary Shin, who caused a stir by announcing his resignation, also attended the senior secretaries meeting that day. Shin was seen sitting silently, staring straight ahead without engaging in conversation with those around him. After returning from leave, Shin entrusted his position to President Moon and expressed his intention to do his best in performing his duties. President Moon also did not mention any matters related to Senior Secretary Shin during the meeting.