The venture sector welcomed the nomination of Han Seong-sook as prime minister and said she is the right person to lead the age of artificial intelligence (AI) transition and digital innovation.
The Korea Venture Business Association issued a commentary on the 7th, saying it welcomes the nomination of Han Seong-sook and expects a new leap for Korea's venture ecosystem.
Regarding the nominee, the association said she is a "hands-on leader who understands the front lines of private-sector innovation better than anyone and has led digital transformation and technological innovation," adding that "the industry field experience she accumulated at Empas and Naver and the policy-driving ability she showed as Minister of the Ministry of SMEs and Startups make this a very meaningful choice at a time when we must restore the dynamism of our economy and lead innovation in the AI era."
In particular, it emphasized that during her tenure as Minister of the Ministry of SMEs and Startups (MSS), she shifted the policy focus from "protection" to "growth" and achieved results in expanding venture investment, broadening the base for startups, and laying the groundwork for revitalizing regional startups.
The association said, "The formation of the largest-ever venture fund, the recovery in venture investment, and the 'Startup for All Project' are highly commendable in that they broadened the foundation for more people to take on and succeed in starting a business."
The venture sector expects that if Han takes office as prime minister, the growth-centered policies pursued during her time as Minister of the Ministry of SMEs and Startups (MSS) will be expanded across the government.
The association said, "Korea's future growth engines ultimately come from ventures and startups that create new technologies, new markets, and new jobs," and added, "We hope to further elevate to the national agenda the tasks across the venture ecosystem, including AI transition, digital innovation, global expansion, revitalizing regional startups, and expanding the foundation for second chances."
It also cited regulatory rationalization, revitalizing venture investment, normalizing the KOSDAQ market, and invigorating regional venture ecosystems as key on-the-ground tasks.
The association said, "We hope you will take a central role in boldly improving outdated systems that cannot keep up with the speed of innovative industries and in creating an environment where private-sector challenges are fairly rewarded," adding, "With this nomination, we expect the potential of Korea's venture and startup ecosystem to rise another level."
It added, "The Korea Venture Business Association will also work closely with the government to fully play a responsible role in making Korea one of the world's top four venture powerhouses, achieving technology-led growth, private-sector innovation, and stronger global competitiveness."