The Korea Venture Capital Association (hereafter referred to as the VC Association) announced on the 29th that it had participated in the "Startup Global Outbound Policy Seminar," which was hosted by the Korea Venture Startup Association and sponsored by the Korea Startup Promotion Agency, Korea SMEs and Startups Agency, Korea Venture Investment Corp, and others.
The seminar, held on the 28th at IFC Two Hall in Yeouido, Seoul, was organized to explore global expansion strategies for domestic startups and discuss policy responses in the face of changing external environments such as the spread of protectionism and uncertainties in the global market. The event drew significant attention, with approximately 200 participants including startups, VC and related institution officials, and experts.
The scene from the "Startup Global Outbound Policy Seminar" held on the 28th at IFC Two Hall, Yeouido, Seoul. VC Association
During the opening ceremony, representatives from the co-organizing and sponsoring institutions delivered congratulatory remarks and greetings, unanimously emphasizing that both the government and the private sector must work together to establish a solid institutional foundation for the successful overseas expansion of startups.
Kim Hakkyun, President of the VC Association, stated, "In the first quarter of this year, venture capital accounted for a significant portion of the 2.6 trillion won in new domestic venture investments," and added, "The VC Association will support the growth of promising companies into global enterprises by expanding venture investment funding sources and supporting domestic companies in listing overseas."
Yoo Jongpil, President of the Korea Startup Promotion Agency, commented, "This seminar serves as an important opportunity to establish actionable strategies and institutional support for the globalization of startups," and added, "The Korea Startup Promotion Agency will continue to collaborate with the private sector to support the overseas expansion of startups."
The seminar focused on key issues such as diagnosing the challenges faced by domestic startups due to the strengthening of protectionism, policies and support strategies for overseas expansion, and investment risks and exit strategies associated with global expansion.
Yang Junseok, Professor at the Catholic University of Korea, presented on the topic of "Challenges and Support Strategies for Startups Amid the Spread of Protectionism," highlighting factors to consider when entering global markets through case studies of damages by country and regulatory response strategies.
Following this, Kim Juniik, Professor at Konkuk University, introduced step-by-step support measures such as market research, legal and certification processes, and partner matching, and presented practical global expansion strategies.
During the policy discussion session, Kang Youngjae, Chairman of the Council of Centers for Creative Economy and Innovation, served as the moderator and led an in-depth discussion with academics and experts in investment and policy fields on the topic of "Response Strategies and the Necessity of Local Market Entry for Startups Amid Strengthening Protectionism."
Key remarks from the policy discussion included, "We must recognize the limitations of existing policies in light of structural changes and adapt accordingly," and "It is necessary to strengthen direct support for local market entry by establishing government-led startup support centers."
The discussion concluded with a statement from Kang Youngjae, Chairman of the Council of Centers for Creative Economy and Innovation, who said, "I hope to see policy improvements that overcome the limitations of current policies and reflect changes of the times for the successful global expansion of startups."
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