Yoon Geon-su, the chairman of the Korea Venture Capital Association, said on the 31st that he will lead the activation of the venture investment recovery market next year.
During his New Year’s address, Chairman Yoon noted, "Investment sentiment is shrinking, and the listing of innovative corporations on the KOSDAQ is decreasing, making it harder than ever to recover investment funds."
Chairman Yoon emphasized, "I will lead the activation of the recovery market and investment through the inflow of private funds by discovering new investors, the independent operation of the KOSDAQ market, and expanding contributions to secondary funds."
He added, "I will consider ways to expand initial investment incentives and support venture capital (VC) to fulfill its original role through institutional improvements."
According to Chairman Yoon, initial investments in the domestic venture investment market are decreasing. This is due to the contraction of the recovery market, which has resulted in investments concentrating on verified later-stage corporations.
Chairman Yoon stated, "As the term venture capital suggests, when faced with a crisis, we have taken on a more shining role," urging to always take risks and seek innovation.
Chairman Yoon said, "To survive now, we must compete fiercely at every moment, determined to be number one not just in the domestic market but globally," and also proposed a policy to support overseas investments at the association level.
First, he announced a plan to introduce and establish the systems and cultures of advanced overseas venture investment markets domestically to create a global-level investment environment and promote investment inducement.
Additionally, he promised to provide members with opportunities for international exchanges and specialized training programs to enhance the capabilities of domestic VCs to lead the global market.
He continued, "The association will continue to push forward with projects and support for the venture investment industry with the new government," adding, "I ask for your continued trust and encouragement."