Korea Venture Capital Association (VC Association) welcomed the mention of a startup-centered society in the president's New Year's address.
On the 2nd, the VC Association noted President Lee Jae-myung's message in the New Year's address, "We will support a startup-centered society so that businesspeople and entrepreneurs can take on challenges to their heart's content and blaze a trail of innovation," saying it expects "the domestic venture ecosystem to mature another step."
The VC Association also expressed hope that policy finance, through the Public Growth Fund launched last year, will supply large-scale liquidity to the KOSDAQ market, the growth route for venture corporations, and the venture investment market, serving as a priming pump for the inflow of private equity capital.
The president the previous day released his first New Year's address since taking office and laid out five pathways for a grand transition: "local-led growth," "growth for all," "sustainable growth with safety as the baseline," "attractive growth led by culture," and "stable growth underpinned by peace."
Kim Hak-kyun, head of the VC Association, said, "With the government's released 'Comprehensive plan to leap to the world's top four in ventures' and this New Year's address, we were able to confirm the government's strong commitment to fostering the venture ecosystem," adding, "We will convey the industry's voice and offer suggestions so that government policies can shine in the field."