Invitation Luncheon Lecture for Mid-sized Company CEOs Hosted by Jiseongbae, Chairman of Korea Venture Capital Association
Choi Jin-sik, Chairman of the Korea Federation of Medium-sized Enterprises (sixth from the left in the first row), and Ji Seong-bae, Chairman of the Korea Venture Capital Association (seventh from the left in the first row), are taking a commemorative photo after the lecture.
[Asia Economy Reporter Kim Cheol-hyun] The Korea Federation of Medium-sized Enterprises (KOFME) has embarked on exploring ways to restore the 'economic growth ladder' based on cooperation with innovative venture companies.
On the 11th, KOFME held a luncheon lecture for CEOs of medium-sized enterprises at the Grand Hyatt Seoul, inviting Ji Seong-bae, chairman of the Korea Venture Capital Association, under the theme "New Growth Momentum, Synergy between Medium-sized and Venture Companies," the federation announced.
This is a follow-up measure to the memorandum of understanding signed last month between KOFME and the Korea Venture Capital Association to expand cooperation between innovative venture companies and medium-sized enterprises since Chairman Choi Jin-sik took office. A KOFME official explained, "In the era of the 4th Industrial Revolution and post-COVID-19, this is the first step to concretize the mutually beneficial growth momentum between medium-sized enterprises and innovative venture companies, which are key to restoring the growth ladder and enhancing economic dynamism."
In his keynote speech, Chairman Ji introduced the current status of domestic unicorn companies and explained the value and role of venture capital in inducing economic and social added value such as employment, emphasizing, "Cooperation between venture companies leading innovation and medium-sized enterprises securing new growth engines based on entrepreneurship will be a meaningful breakthrough for the re-leap of the Korean economy as a new growth model."
Chairman Choi Jin-sik of KOFME stated, "Through active cooperation with innovative venture companies, we will create a virtuous cycle in the industrial ecosystem and establish a mutually beneficial cooperation platform for the great transformation of Korea's industry," adding, "We will closely cooperate with the government to create an innovation growth investment fund led by medium-sized enterprises and expand various project investments that generate synergy between the innovation capabilities of venture companies and the growth know-how of medium-sized enterprises."
Chairman Choi further added, "For a successful private-led economic paradigm shift, active participation of the medium-sized enterprise sector, the core subject of innovation, is essential," and said, "To unite all medium-sized enterprises as a single front as a base for groundbreaking change, I will continuously write letters and visit them during my term to appeal for participation."
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