Kwon Dae-young, the deputy chairman of the Financial Services Commission, vowed on the 29th to support the activation of investment in the venture and startup sectors and stated that practices and regulations that hinder innovation will be boldly improved.
At the 'Venture and Startup Industry Meeting' that day, Deputy Chairman Kwon said, "The new industries and markets that will lead our economy in 20 years must be pioneered by ventures and startups."
Deputy Chairman Kwon stated, "Efficient funding through finance is crucial, and we must all come together to achieve qualitative innovation beyond mere quantitative support." He added, "For ventures and startups, the most important thing is creating opportunities to introduce themselves to the market and forming references through this," and said, "The government plans to increase events for meeting investors in the future."
To this end, he mentioned plans to collaborate with KDB NextRound, IBK Changgong, Dcamp, Korea Fintech Support Center, Korea Credit Guarantee Fund (KODIT), and private financial companies to increase meet-up events.
Deputy Chairman Kwon noted, "We will activate venture investments by private large companies and financial institutions and diversify the recovery market through the KOSDAQ market to establish a virtuous cycle of investment." Additionally, he presented support measures including ▲ assistance for entering global markets and attracting foreign investors ▲ improvement of practices, regulations, and accounting systems ▲ fostering startup support organizations.
The meeting included representatives from major startup associations in Korea, startup companies recommended by startup support organizations, personnel from startup support organizations, and individuals from venture capital and accelerators, totaling 48 participants.