Jo Min-sik was inaugurated as the second president of the Korea Business Angels Association.
The Korea Business Angels Association held its regular general meeting on the 28th and elected Vice President Jo as the second president. The association is well known as the leading organization for the Ministry of SMEs and Startups' technology startup support program 'TIPS'.
Since its establishment in 2012, it is the first time the leadership of the Angel Investment Association, which has been led by Koh Young Technology chairman, often referred to as the 'lend of the venture industry,' has changed. This move is interpreted as a measure to enhance competitiveness by introducing a 'new face' as the Ministry of SMEs and Startups has recently initiated the re-selection procedure for leading organizations.
In his inaugural speech, Vice President Jo noted, 'The reason today's Kakao was possible was thanks to the angel investors who initially gathered 5.3 billion won, not the venture capitalists.' He added, 'The funds executed through the TIPS program and the government over the past 12 years have ultimately been more effective than any policy funding executed during that time.'
He continued, 'I plan to join Chairman Koh as an advisor and to share the dream of creating 1,000 unicorns by 2035, which he has had. If you provide good suggestions, I will take them into consideration to create a more advanced venture startup ecosystem.'