[New Year's Address] VC Association Chairman Hakkyun Kim: "Focusing Capabilities on Normalizing KOSDAQ"

Hakkyun Kim, Chairman of the Korea Venture Capital Association (Korea VC Association), announced that the association will focus its capabilities this year on achieving structural normalization of the KOSDAQ market.

On January 5, Chairman Kim stated in his New Year's address, "We will complete a virtuous cycle in which successful investment exits lead to reinvestment of private capital."

First, Chairman Kim noted, "While the scale of investment showed signs of recovery last year, the relatively subdued exit market raised fundamental questions about the virtuous cycle of the venture investment ecosystem." He added, "Nevertheless, the association and its member companies have made continuous efforts to bring about meaningful change, which has led to valuable achievements."

Hakkyun Kim, Chairman of the Korea Venture Capital Association. Korea Venture Capital Association

Chairman Kim explained, "We actively put forward proposals to expand funding sources and normalize the exit market, and we are now beginning to see the policy results of these efforts." He continued, "By joining forces with related organizations and academia to continuously propose concrete policies for revitalizing the KOSDAQ market, we have fostered a strong consensus among the government and political circles on the importance of the exit market within the innovation ecosystem."

He also remarked, "It is encouraging that the government is now actively promoting investments in venture funds by retirement pensions, statutory funds, and various public pension funds." He assessed, "In addition, the introduction of a self-regulation program to restore market trust and the opening of the venture investment analyst qualification exam to the public were also meaningful steps toward enhancing the sustainability of the industry."

As the top priority for this year, he proposed the establishment of a 'KOSDAQ-dedicated fund' centered on institutional investors. He stated, "First, we will ensure that the government's vision to make Korea one of the world's top four venture powerhouses leads to tangible results in the field, and we will focus our capabilities on the structural normalization of the KOSDAQ market." He added, "Furthermore, we will improve unreasonable regulations and practices through communication among stakeholders such as the government, investors, and fund managers. We will also expand our global presence by attracting foreign capital and increasing the creation of offshore funds."

Additionally, Chairman Kim emphasized, "In this era of technological hegemony, Korea's future growth engine depends on the innovation ecosystem, and the core and connecting link among all participants is the venture capital sector." He urged, "Let us, led by the association, work together to build the world's most efficient innovation ecosystem."