Yoon to CES Innovation Award-winning Entrepreneurs: "Government Will Support You to Become Leaders of Global Standards"

Yongsan Presidential Office Invitation Luncheon Meeting
Promise to Support the Birth of Numerous Unicorn Companies
Interest Shown While Touring Booths Exhibiting Products Before the Meeting

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol stated on the 2nd that "the government will actively support you so that you can become leaders in pioneering global standards" to venture and startup entrepreneurs.

On the same day, President Yoon held a luncheon meeting at the Freedom Hall of the Yongsan Presidential Office, inviting about 40 Korean venture and startup entrepreneurs who received Innovation Awards and Best Innovation Awards at CES 2023, the world's largest IT and electronics exhibition, and emphasized, "I ask you to continuously challenge and innovate with relentless passion."

President Yoon first expressed gratitude, saying, "I am not the one encouraging you, but among many diplomatic events and various meetings held since the launch of our government here at the Freedom Hall today, this occasion seems to be the most fulfilling and meaningful," and added, "I feel greatly encouraged by you."

[Image source=Yonhap News]

Reaffirming the government's intention to actively support venture and startup companies as technological innovation is a national competitiveness and future engine, President Yoon said, "The government announced a digital strategy last September and is now promoting digital innovation across the economic and social sectors," and introduced, "As one axis to overcome the complex crisis surrounding our economy, we are promoting Startup Korea along with export promotion, actively supporting the challenges and innovations of our younger generation."

He added, "The government will support the emergence of numerous global unicorn companies among innovative startups in the fields of science, technology, and digital," and "We will do our best to support global expansion, attract excellent talent, and create an investment ecosystem." A unicorn company refers to a startup whose company value has surpassed 1 billion dollars (approximately 1.2 trillion won).

Furthermore, he expressed expectations, saying, "I hope that the advanced science and technology and innovation capabilities you have shown to the world will not only contribute to economic growth and pioneering new markets but also provide opportunities for everyone to fairly access the benefits of technology, and furthermore, become a catalyst to expand the freedom and welfare of our citizens and global citizens."

Before the luncheon meeting, President Yoon toured booths where products from ventures and startups that won the Best of Innovation Award at CES were demonstrated.

At the booths prepared that day, President Yoon experienced various products such as the world's first tactile graphic device for the visually impaired, an electronic self-cleaning intelligent security camera, a blockchain-based online voting platform, a virtual fireplace generating heat using advanced new material graphene, and a streaming music service utilizing the metaverse, showing interest in the status of patent registrations and more.

[Image source=Yonhap News]