Yoon: "Establish 1 Trillion Won Venture Fund by 2027 to Invest in Non-Capital Region Startups"

President Yoon Suk-yeol is speaking at the 8th Central-Local Cooperation Meeting held at Gangwon Provincial Office on the 6th. Photo by Yonhap News

President Yoon Suk-yeol stated on the 6th, "We will actively invest in non-capital region startup companies by creating a venture fund worth 1 trillion won by 2027."

President Yoon attended the 8th Central-Local Cooperation Meeting held at Gangwon Provincial Office in the afternoon and said, "We will establish a 'Local Era Venture Fund' so that companies founded in local areas can grow and settle there."

He urged, "Local governments should also consider ways to expand investments tailored to the field so that companies founded in local areas can grow and create jobs, establishing a virtuous cycle."

Additionally, President Yoon said that the government's introduced 'Four Major Local Era Special Zones (Opportunity Development Zone, Education Development Zone, Urban Convergence Zone, and Cultural Zone)' are core policies.

He emphasized, "True local era will be realized when industry, jobs, and residential infrastructure are developed as a package," and requested, "Local governments should also work together to find ways to efficiently link local era projects from the perspective of the field."

Referring to the recent increase in births and marriages, he said, "To turn the spark of fertility rate rebound into a definite upward trend, all ministries and local governments should join forces even more."

Regarding the Ministry of Justice's 'New Immigration and Entry Policy Promotion Plan' announced last September, he requested local governments to provide sufficient support so that foreigners can settle well as members of our community.

President Yoon also emphasized his commitment to revitalizing empty houses and closed schools as spaces for regional vitality. He said, "Local areas are also working together to solve the problems of empty houses and closed schools," and urged, "Local governments, education offices, and the government should continue to unite and make efforts."

Since the 2nd Central-Local Cooperation Meeting in October 2022, President Yoon has presided over all meetings while touring Ulsan, Jeonbuk, Busan, Gyeongbuk, Seoul, and Chungnam.

The meeting was attended by Prime Minister Han Duck-soo, Deputy Prime Minister and Minister of Education Lee Ju-ho, Minister of Culture, Sports and Tourism Yoo In-chon, Director of the Office for Government Policy Coordination Bang Ki-sun, and Chairman of the Local Era Committee Woo Dong-gi, among others.