The National Assembly, the government, and the venture and startup sector on the 12th officially launched a standing policy council to discuss the next phase of Korea's innovation-led growth.
The Ministry of SMEs and Startups on the same day held the first Venture and Startup Growth Forum at National Assembly Seminar Room 1 with lawmaker Kim Han-kyu of the Democratic Party of Korea, the Venture Business Association, and the Korea Startup Forum. The Ministry of SMEs and Startups (MSS) said it would fully activate a policy mechanism that consolidates structural difficulties faced by ventures and startups in the field into legislative and regulatory improvements.
Until now, government policy has focused on promoting startups and spreading a culture of risk-taking. However, there have been continued observations that corporations that have grown to a certain size face new growing pains as they encounter complex barriers such as regulation, labor, investment, and governance. Starting from this awareness of the problem, the forum aims to expand the policy scope one step from "startup support" to "growth partnership" and to establish an institutional foundation that enables ventures and startups to grow continuously in Korea.
In particular, it carries the intention to consolidate the policy momentum formed after the Comprehensive Plan to Leap to the Four Major Venture Powerhouses and the National Startup Era Strategy Meeting into tangible growth support.
At the forum, in addition to lawmaker Kim Han-kyu, lawmakers Kim Won-i, Jang Cheol-min, and Kim Dong-a (all Democratic Party), and lawmaker Kim Jong-min (independent) attended and expressed their willingness to provide legislative support. From the government, First Vice Minister Noh Yong-seok of the Ministry of SMEs and Startups (MSS) attended to listen to on-site opinions. From industry, Song Byung-jun, head of the Venture Business Association, Koo Tae-eon, vice chair of the Korea Startup Forum, and representatives of unicorns and growth-stage ventures participated. Academia was also represented by Choi Byung-cheol, head of the Korea Society of Venture Startups, and Jin Byung-chae, head of the Korea Small Business Institute.
The forum aims not to stop at collecting on-site opinions but to pursue a structured deliberation system that feeds them back into legislation and regulatory improvements. The forum on the day took a close look at the structural problems faced by growth-stage corporations. Participants discussed how regulatory clashes between new and existing industries and professional turf conflicts affect business expansion and investment. They also identified as key tasks the so-called "scale-up paradox," including limits in raising large-scale growth capital, bottlenecks in the exit market such as IPOs and M&As, delays in institutionalization after regulatory sandboxes, and labor and organizational risks.
Lawmaker Kim Han-kyu said, "It is now time for venture policy to move beyond 'encouraging challenges' to 'spreading success,'" adding, "We will do our best to make this forum a structure in which voices from the field actually lead to legislation and systems."
First Vice Minister Noh Yong-seok said, "Policy partnership that reduces uncertainties experienced by ventures and startups during the growth stage is important," emphasizing, "In close cooperation with the National Assembly, we will build an institutional foundation that enables ventures and startups to grow to the end."
The Venture and Startup Growth Forum will be held every month in rotation across new industries such as AI and data, semiconductors, mobility and robots, bio and healthcare, and energy and Climate Tech, and will closely examine and seek solutions for turf conflicts and regulatory issues arising in each industry and bottlenecks in the growth stage.