President Lee Jae-myung, visiting the United States, said on the 25th (local time) after meeting venture capital (VC) firms active in Silicon Valley that "if the strengths of the two countries combine, we can create the next generation of Samsung, Hyundai, SK, Naver, and innovative corporations that will lead the world."

Kim Sung-ju, chair of the National Pension Service, and Barry Eggers, co-founder of Lightspeed Venture, pose for a commemorative photo after signing an MOU between the National Pension Service and leading Silicon Valley VCs at a Silicon Valley venture investment meetup at a hotel in San Francisco on the 25th (local time), with President Lee Jae-myung in attendance./Courtesy of News1

Lee said, "The government of the Republic of Korea will create the world's most favorable environment for investment and startups," adding, "We will boldly improve visa systems that block the inflow of overseas startup talent, and expand the cooperation base that consolidates domestic and international corporations, research institutions, and investment institutions."

He went on to say, "By organically linking the mother fund, the Public Growth Fund, pension funds, and private capital, we will support promising startups so they do not remain at the founding stage but grow into global corporations."

The venture capital firms Lee met were Andreessen Horowitz, Sequoia Capital, General Catalyst, New Enterprise Associates, Lightspeed Venture Partners, and Khosla Ventures, the top six players in the Silicon Valley venture investment industry. Venture capital firms are investment companies that specialize in investing in early-stage corporations with high growth potential.

Lee also emphasized that cooperation between South Korea and the United States can further elevate global competitiveness. "While the United States has world-class venture investment capabilities and a broad global network, Korea has outstanding technological prowess, manufacturing competitiveness, and a dynamic startup ecosystem," Lee said. "If the strengths of the two countries are combined, global innovative corporations like the next generation of Samsung, Hyundai, SK, and Naver could be born."

He stressed, "When Korean startups meet U.S. capital and markets, and when U.S. investors and innovative corporations consolidate with Korea's technology, manufacturing, and talent ecosystems, the two countries will become innovation partners leading together for 30 years."

Meanwhile, at the event, a memorandum of understanding (MOU) was also signed between major venture capital firms and the National Pension Service (NPS).

※ This article has been translated by AI. Share your feedback here.