Innovative Venture Industry: "Turning This Year's Crisis into an Opportunity for Growth"

2022 Innovation Venture Industry New Year's Meeting Held

(From left) Beom Jin-gyu, Senior Vice Chairman of the Korea Venture Business Association; Lee Jun-bae, Chairman of the Korea Accelerator Association; Jang Kyung-ho, Chairman of the KOSDAQ Association; Kwon Chil-seung, Minister of SMEs and Startups; Kim Bun-hee, Chairwoman of the Korea Women Venture Association; Lee Young, Member of the People Power Party; Kim Kyung-man, Member of the Democratic Party of Korea; Kim Yong-seon, Deputy Commissioner of the Korean Intellectual Property Office; and Ji Sung-bae, Chairman of the Korea Venture Capital Association are posing for a commemorative photo.

Five related organizations in the innovative venture industry, including the Korea Venture Business Association, Korea Women Venture Association, KOSDAQ Association, Korea Venture Capital Association, and Korea Accelerator Association, announced on the 19th that they held the '2022 Innovative Venture Industry New Year's Meeting.'

Related associations and organizations in the innovative venture industry jointly hold a New Year's meeting every year to reaffirm their commitment to coexistence and leap forward at the industry level. Especially this year, it reflected the determination of innovative venture companies, which have been going through difficult times due to COVID-19, to unite their strength to overcome the crisis and grow together.

Kim Bun-hee, president of the Korea Women Venture Association, the representative host of this New Year's meeting, said, "Despite the COVID-19 crisis, the continuous increase of unicorn companies and venture companies with over one trillion won in valuation shows that innovative venture companies are leading the Korean economy," adding, "We will work together as innovative venture entrepreneurs to turn the crisis into an opportunity and grow so that Korea can leap forward as one of the world's top four venture powerhouses."

Kang Sam-kwon, president of the Korea Venture Business Association, said, "Last year, our society had to endure unprecedented chaos and difficulties due to COVID-19, but looking back, our venture companies have always existed amid rapid external environmental changes, and crisis and opportunity have always coexisted," and added, "I hope that our venture companies will make a great leap forward in the new year and demonstrate the potential to dramatically turn around our economy."

Kwon Chil-seung, Minister of SMEs and Startups, said, "Last year, the formation amount of venture funds reached a record high of 9.2 trillion won, and the spread of the second venture boom is an achievement created through cooperation among innovative venture entrepreneurs, the National Assembly, and the government," adding, "The Ministry of SMEs and Startups will actively communicate with the innovative venture industry and actively support the activation of the venture startup ecosystem so that Korea can emerge as a genuine global venture powerhouse."