VC Association Welcomes President Lee's New Year's Address on "Startup-Centered Society and Era of Startup and Venture Business Boom"

The Korea Venture Capital Association (VC Association) welcomed the President's New Year's address, which emphasized the importance of entrepreneurship, startups, and venture companies.

On January 2, the VC Association stated, "The President's New Year's address highlighted a major shift from growth centered on large corporations to growth for all," and expressed its support for this message.

The previous day, President Lee Jaemyung outlined five major paths for transformation in his New Year's address: region-led growth, growth for all, sustainable growth based on safety, attractive growth driven by culture, and stable growth supported by peace.

President Lee said, "The shared economic achievements accomplished through the capabilities of our community and the efforts of all citizens must extend to small and venture companies and ultimately benefit the pockets of our people. The 'National Growth Fund,' launched last year, will serve as a catalyst for transformation, allowing anyone in the nation to invest in the country's growth and development and to share the fruits of that growth equally."

He continued, "In line with the transition from an 'employment-centered society' to a 'startup-centered society,' the government will provide unwavering support so that young entrepreneurs and founders can boldly and freely take on new challenges and pioneer paths of innovation. We will build a nation where failure becomes an asset for future success and anyone can rise again at any time, ushering in an era of a startup and venture business boom where any idea can lead to a new company, and opening a golden age for small and medium-sized enterprises."

On the same day, Kim Hakgyun, Chairman of the VC Association, said, "Through the recently announced 'Comprehensive Plan for Advancing to the Top Four Global Venture Powerhouses' and this New Year's address, we have confirmed the government's strong commitment to fostering the venture ecosystem. The VC Association will actively communicate the industry's perspectives and provide practical suggestions to ensure that the government's related policies are effective in the field."