The Korea Venture Business Association will run a memorial week to mark the seventh anniversary of the death of honorary chair Lee Min-hwa, who laid the cornerstone of Korea's venture ecosystem, and will reexamine the entrepreneurial spirit of challenge and innovation the late leader left behind.
The Korea Venture Business Association said on the 4th that it designated the week from on the 3rd as "Memorial Week for the late honorary chair Lee Min-hwa" and will operate an online memorial hall open to anyone. In the memorial hall, people can freely leave online messages in remembrance of the deceased.
The association noted that, as Korea's venture ecosystem faces a new turning point amid institutional reforms in the capital market including KOSDAQ and changes in the venture investment environment, not only institutional support but also the entrepreneurial spirit that drives challenge and innovation among venture businesspeople is becoming more important for sustained growth and a new leap forward.
It emphasized that this memorial week was arranged in light of the need for today's venture ecosystem to once again reflect on the spirit of the first generation of ventures, which, based on innovative technology, took bold risks and turned what seemed impossible into new possibilities.
The late honorary chair Lee Min-hwa is a representative first-generation venture entrepreneur who led the enactment of the Special Act on Venture corporations, policies to foster venture corporations, and revitalization of KOSDAQ, building the foundation for the growth of Korea's venture industry. Lee also served as the first chair of the Korea Venture Business Association and played a major role in developing Korea's venture ecosystem by taking the lead in improving the rights and interests of venture corporations and spreading the entrepreneurial spirit.
An official at the Korea Venture Business Association said, "Now that the venture ecosystem has reached a new turning point, it is the time to reestablish and carry forward the entrepreneurial spirit shown by the late honorary chair Lee Min-hwa."