The startup and women-owned corporations communities welcomed Democratic Party of Korea lawmaker Lee So-young's nomination as candidate for Minister of the Ministry of SMEs and Startups. They also called for faster rollout of on-the-ground policies to foster artificial intelligence (AI) and deep tech corporations, invigorate venture investment, and support women's entrepreneurship.
Korea Startup Forum issued a statement on the 30th saying, "We expect lawmaker Lee So-young to be a strong partner in steering Korea toward a 'national startup era' and propelling the startup ecosystem forward."
The forum said the nominee began as a lawyer and environmental expert, worked in climate and carbon reduction, and, as a two-term lawmaker in the 21st and 22nd National Assembly, handled industry and SME-venture policy.
It particularly viewed that Lee has built policy experience spanning innovation-led growth and people's livelihoods, including engaging in legislative efforts to support startups and protect small merchants.
The forum also emphasized that the nominee has addressed SME and venture corporations issues through work on the Trade. Industry Energy. SMEs. and Startups Committee of the National Assembly. "As someone who understands the growth logic of new industries including Climate Tech and has broadly handled SME and venture corporations issues, Lee is a suitable choice who knows both policy and the field," it said.
There was also a call for the Ministry of SMEs and Startups (MSS) to further spell out a shift in startup support from "protecting support" to "nurturing growth."
The forum said, "We hope to see steady progress in lowering barriers so anyone can try founding a company, fostering promising AI and deep tech corporations, and elevating the venture investment market to a global level."
It added demands to strengthen cooperation between the public sector and startups, redesign systems with startups at the center, and support domestic corporations in scaling globally.
The women-owned corporations community also expressed expectations for the nominee's expertise and policy experience.
The Korean Women Entrepreneurs Association said in a statement that day, "We sincerely welcome the nomination of Lee So-young as the Lee Jae-myung administration's candidate for Minister of the Ministry of SMEs and Startups."
The association assessed that the nominee, as a legal expert and two-term lawmaker, gained understanding and experience in SME and venture policy while serving on the Trade. Industry Energy. SMEs. and Startups Committee.
It also noted Lee's efforts to craft policies for sustainable growth and industrial transition, including sponsoring the Framework Act on Carbon Neutrality as the lead proposer.
The association said, "The environment, climate, and energy sectors are becoming increasingly important for SMEs' sustainable growth and securing future competitiveness," and added, "We expect the nominee's expertise and experience to be well integrated into SME and venture policy."
It also said the selection of the nominee, born in 1985, is meaningful in that it reflects the leadership of the younger generation and women in national governance.
The association said, "This appointment shows the government's will to actively bring the younger generation's perspective and women's leadership into governance and to realize diversity and inclusion in appointments that span generations and genders."
It also requested activation of women's entrepreneurship and expanded market access and investment for women-owned corporations. It called for policies that support innovation so SMEs can respond to changes in the industrial environment, such as AI, digital transformation, and carbon neutrality.
The association said, "We hope for the pursuit of effective policies so that women-owned corporations can challenge themselves more vigorously and grow as confident engines of Korea's economy," adding, "We will actively cooperate for a new leap for SMEs and small merchants and for the sustainable growth of Korea's economy."