Venture Business Community: "New Government Supplementary Budget Brings Vitality to Cash-Strapped Venture Companies"

"Time Lag Between Mother Fund Commitment and Investment...
Request for Swift Review"

The Korea Venture Business Association expressed its strong support for the supplementary budget announced by the government on June 19.

The association stated, "This supplementary budget will serve as a catalyst for economic stimulus and stabilization of people's livelihoods. The increase in the Mother Fund and the additional supply of policy funds will provide much-needed vitality for venture companies struggling to secure financing."

The association added, "The promotion of investment in future industries such as artificial intelligence (AI) will serve as an important stepping stone for the development of next-generation technologies and the strengthening of global competitiveness. We also believe it will have a positive impact on restoring investment sentiment among venture companies."

The association continued, "However, since it may take some time for investments to reach venture companies through the Mother Fund, we urge the National Assembly to conduct a swift review and approval. We also hope that pledges to expand the venture investment market, such as allowing venture investments by retirement pensions and increasing venture investments by pension funds, will be pursued with a sense of urgency."