Minister Hansung Sook: "Comprehensive Strategy for Making Korea a Top Four Global Venture Powerhouse to Be Prepared in the Second Half"

Roundtable with Leaders of Venture and Startup Associations
Industry Proposes Regulatory Innovation and Expansion of the Fund of Funds

Hansung Sook, Minister of SMEs and Startups, met with leaders of venture startup-related associations and organizations at the Gwanghwamun Building in Jongno-gu, Seoul on the 13th to listen to industry challenges and policy suggestions.

This roundtable was the first policy field tour in the venture startup sector, attended by major associations including the Korea Venture Business Association, Korea Startup Forum, Korea Venture Capital Association, Korea Angel Investment Association, and the Early Investment Accelerator Association.

Hansung Sook, Minister of SMEs and Startups, is delivering a greeting at the "Policy Field Tour for Revitalizing the Venture Ecosystem" held on the 13th at the Gwanghwamun Building in Jongno-gu, Seoul. Ministry of SMEs and Startups

Minister Han is conducting policy field tours to meet with key stakeholders in the fields of small business, SMEs, and venture startups, listening to their difficulties and policy proposals, and engaging in direct communication. These field visits are conducted in a relay format, with the minister visiting sites closely related to the ministry's major policy areas to ensure that the voices from the field are reflected in policy.

The associations and organizations proposed several measures: regulatory innovation to globalize the innovative venture ecosystem; strengthening the role of the Ministry of SMEs and Startups to support the entire venture startup ecosystem in an integrated manner; advancing the regulatory sandbox to lay the foundation for the growth of startups in new industries; expanding the budget for the Fund of Funds to drive growth in the venture investment market; and enhancing regional investment functions.

Minister Han stated, "Activating the venture ecosystem is essential to achieving Korea's 'genuine growth.' Starting today, we will continuously hold relay roundtables with experts and the venture and startup industries, and based on the issues identified through these discussions, we will prepare a 'Comprehensive Strategy for Making Korea One of the World's Top Four Global Venture Powerhouses' in the second half of the year."