CES Innovation Award-Winning Entrepreneurs... Urge President Yoon for "Active Regulatory Reform"

Lunch Meeting Held at Yongsan Presidential Office

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] "Please actively improve regulations so that the achievements of technological innovation are not hindered."

President Yoon Suk-yeol (photo) held a luncheon meeting on the 2nd with about 40 startup representatives who received innovation awards at the International Consumer Electronics Show (CES) 2023 held last month.

The luncheon meeting held at the Yongsan Presidential Office was arranged to encourage the achievements of entrepreneurs and to listen to various voices from the field.

Before the meeting, President Yoon and Minister Lee Young of the Ministry of SMEs and Startups visited booths where products from five companies that received the highest innovation awards?Dot, Microsystem, Zcrypto, Graphene Square, and Versys?were demonstrated.

President Yoon exchanged opinions on various ways to promote the challenges of young innovators and to help domestic innovative companies expand globally.

The attendees requested continuous interest and support from the government, including active regulatory improvements to prevent technological innovation achievements from being blocked by regulations and support for innovative companies to enter overseas markets.

They also expressed their determination to strive for growth from young ventures and startups into deep-tech unicorns (unlisted companies valued at over 1 trillion won).

Minister Lee said, "At this CES event, we could clearly see the active performance of K-startups and confirmed that they have sufficient competitiveness to capture the global market."

Meanwhile, the Ministry of SMEs and Startups plans to invest 2 trillion won over the next five years in 10 new industry sectors to foster more than 1,000 startups with overwhelming competitive advantages.