National Growth Fund Public Briefing Held on September 10
On September 10, President Lee Jaemyung held the "National Growth Fund Public Briefing and Discussion" at Front One in Mapo, Seoul, together with participants from the industrial sector, startup and venture communities, and the financial industry, listening to a wide range of voices from the field. This event is part of President Lee's ongoing economic and livelihood initiatives, which include recent visits to K-manufacturing sites, aimed at finding new engines of growth and formulating strategies to foster and support Korea's core advanced strategic industries such as artificial intelligence (AI), robotics, bio, semiconductors, defense, and aerospace.
More than 130 people attended the public briefing, including not only companies leading Korea's advanced strategic industries but also startups, venture capitalists, university startup clubs, future talents, and notable figures such as Lee Sedol, a distinguished professor at Ulsan National Institute of Science and Technology, and Shin Dongshik, chairman of Korea Maritime Technology. Before the main discussion, the Financial Services Commission presented the "National Growth Fund Formation and Operation Strategy," followed by discussions on strategies for fostering advanced strategic industries and revitalizing the startup and venture ecosystem.
In his opening remarks, President Lee stated, "As major countries such as the United States and China expand national support for advanced strategic industries, the world is engaged in a 'war without gunfire.'" He added, "We will expand the fund size, which was initially announced at 100 trillion won, to more than 150 trillion won." President Lee also emphasized that the newly launched "National Growth Fund" will inject vitality into our stagnant industries and serve as a cornerstone for the people, government, and business community to build Korea's future together. He stated, "We will share the opportunities and benefits of growth in advanced strategic industries with the people."
He further noted that while national resources have been heavily invested in the growth of large corporations and catching up with advanced economies, there has been a relative lack of support for fostering venture and innovative companies. He stressed that revitalizing the venture ecosystem is essential for the future of the Korean economy. President Lee remarked, "Fiscal resources must act as a priming pump to attract private investment, and it is important to make a major shift toward productive finance."
Attendees at the public briefing included SK Group Chairman Chey Taewon, Celltrion Chairman Seo Jungjin, Samsung Electronics President Park Seunghee, Furiosa AI CEO Baek Junho, LG Uplus Executive Vice President Kwon Yonghyun, Hyundai Motor Company Executive Vice President Kim Dongwook, SKT Executive Vice President Lee Jongmin, and newly appointed Korea Development Bank President Park Sangjin.
From the government, Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol, Minister of Science and ICT Bae Kyunghoon, Minister of Trade, Industry and Energy Kim Jungkwan, Minister of SMEs and Startups Han Seongsook, Minister of Oceans and Fisheries Jeon Jaesoo, Chairman of the Presidential Committee for Balanced National Development Kim Kyungsoo, Vice Chairman of the Financial Services Commission Kwon Daeyoung, and Governor of the Financial Supervisory Service Lee Chanjin were in attendance.
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