Kang Sam-gwon "Congratulations to President-elect Yoon... Venture Company Policies Should Focus on Market"

Kang Sam-gwon, Chairman of the Korea Venture Business Association.

[Asia Economy Reporter Donghyun Choi] "I sincerely hope that during the presidential election period, the elected candidate’s proposed pledges will be well implemented to establish a Korean venture ecosystem that leads the global innovation industry."

Kang Sam-gwon, Chairman of the Korea Venture Business Association, made this comment on the 10th following the confirmation of Yoon Seok-yeol, the People Power Party’s presidential candidate, winning the 20th presidential election. Chairman Kang said, "I sincerely congratulate candidate Yoon on his election as the 20th president," but added, "Currently, our society is facing a severe situation both domestically and internationally, including economic crises such as recession and polarization caused by the COVID-19 pandemic, as well as youth unemployment."

Chairman Kang stated, "I expect that various measures will be prepared and swift responses will be carried out without fail to overcome the crisis, serving as a focal point," and emphasized, "In particular, I hope the elected candidate will faithfully implement the innovation venture policy pledges presented during the presidential election period throughout the term."

He continued, "The elected candidate defined private companies as the key agents of the digital transformation during the election process and pledged to boldly reform regulations that hinder venture company startups and growth," adding, "In the rapidly changing era of the 4th Industrial Revolution, it is impossible for the government to predict all situations and lead policies proactively, so the new government must boldly accept private sector policy demands and promote market-centered policies."

Chairman Kang also explained, "Innovative venture companies are a core alternative that will lead our economy as creators of quality jobs and new growth engines," and requested, "Please create a business environment where venture companies can freely challenge and realize their dreams."

He further stated, "The venture industry will also fulfill its social responsibilities and create jobs for national economic growth," and added, "We promise to actively strive to contribute to Korea’s socio-economic development together with the next government and to realize the era of $50,000 income per capita at an early stage."