VC Association Holds Meeting with Hong Kong Financial Services Agency, Proposes Cooperation to Boost Venture Investment

The Korea Venture Capital Association (VC Association) announced on July 10 that it held a meeting with the Financial Services Agency of the Hong Kong Special Administrative Region Government at the VC Association's main conference room in Seoul the previous day. During the meeting, the VC Association introduced Korea's venture investment ecosystem and discussed ways to expand bilateral investment attraction and policy cooperation.

Attendees of the meeting are taking a commemorative photo (from the fourth person on the left: Paul Chan, President of the Financial Services Agency, Junhee Lee, Executive Vice President of the VC Association). VC Association.

Paul Chan, President of the Financial Services Agency and the equivalent of Minister of Finance, attended the meeting. Other officials from the Hong Kong Special Administrative Region Government, including Winsome Au, Chief Representative of the Hong Kong Economic and Trade Office, also participated. Four domestic VC firms currently pursuing overseas business?Murex Partners, Translink Investment, IMM Investment, and Mirae Asset Capital?were present as well. They shared their overseas investment activities and proposed policies to invigorate investment between the two regions.

Both sides expressed strong interest in government policies and public-private cooperation methods to vitalize venture investment. They proposed to establish a mutual cooperation network and to continue exchanges to expand investment.

The VC Association also welcomed these proposals. The association actively communicates with the Ministry of SMEs and Startups, which is responsible for venture and startup policies, and continues to expand its public-private venture investment networks overseas, including with the Hong Kong Venture Capital and Private Equity Association (HKVCA).

Junhee Lee, Executive Vice President of the VC Association, said, "Recently, the Hong Kong Hang Seng Index has risen significantly, and the stock market is performing well, which presents listing opportunities for domestic startups. If innovative companies invested in by domestic VCs can be listed in Hong Kong through policy cooperation between the two regions, it will help promote our venture ecosystem abroad. This, in turn, will create a virtuous cycle where more foreign investment flows into domestic ventures and startups."

The VC Association plans to support overseas listings of domestic companies as part of its efforts to diversify exit markets, which is one of the key tasks of Chairman Kim Hakgyun, who took office in February. Already this year, the association has held two seminars with overseas exchanges such as the Tokyo Stock Exchange and the Singapore Exchange to introduce trends in overseas IPOs and listing procedures.