On the 27th, the Innovation Venture Association Council announced that it had delivered 150 promotional tasks in four areas for realizing an innovative powerhouse based on entrepreneurship to the People Power Party in the office of the chairperson of the policy committee.
The Innovation Venture Association Council, launched in 2017 under the leadership of the Korea Venture Business Association, consists of 18 private associations and groups collaborating on developing venture policy agendas and proposing policies to the government.
The delivery ceremony was attended by six heads of member organizations, including Song Byeong-jun, the chairman of the Korea Venture Business Association, Jeon Ha-seong, the chairman of the Initial Investment Accelerator Association, Kim Hak-kyun, the chairman of the Korea Venture Capital Association, Seong Mi-sook, the chairperson of the Korea Women Venture Association, Han Sang-woo, the chairperson of the Korea Startup Forum, and Yoo Dong-jun, the vice president of the Korea Angel Investment Association. Kim Sang-hoon, the head of the policy totalization headquarters of the People Power Party, also attended.
On this day, the heads of the Innovation Venture Association Council unanimously stated that to benefit the youth and future generations, venture policy must be established as the top agenda of South Korea's economic policy. They also proposed key tasks such as mandating venture and startup investments from 68 legal funds, reforming working time systems like the 52-hour workweek, establishing a target system for regulatory innovation standards, and decentralizing industrial regulatory authority.
The Innovation Venture Association Council also delivered major policy tasks at a meeting with the floor leader of the People Power Party on 4th April and reflected tasks such as allowing venture investments in retirement pensions, activating investments, expanding quotas for AI and software-related departments, introducing a regulatory innovation standard country system, and making the 52-hour workweek more flexible into the candidates' pledges.
Song Byeong-jun said, "Please make efforts to ensure that the various policy tasks delivered today are reflected so that ventures and startups can play the role of a leading pitcher in strengthening South Korea's national competitiveness."