Minister Hansung Sook of SMEs and Startups: "Ventures Are the Next-Generation National Engine"

Setting the Course for the Next 30 Years of K-Venture
"Venture Future Vision Forum" Held

The Ministry of SMEs and Startups announced on December 11 that it held the 'Venture Future Vision Forum' at COEX in Seoul to commemorate the 30th anniversary of the venture industry and the 20th anniversary of the Korea Fund of Funds, and to discuss new directions for Korean ventures and startups.

This forum was organized to both celebrate the achievements of the venture ecosystem over the years and to discuss a future vision for Korean ventures to become global leaders amid an era of major transformation marked by intensifying global technological competition. Moving away from a format focused on formalities and procedures, the forum served as a 'collective intelligence platform' to incorporate insights from domestic and international innovative entrepreneurs into policy.

Hansung Sook, Minister of the Ministry of SMEs and Startups, delivers the opening remarks at the 'Venture Future Vision Forum' held on the 11th at COEX in Gangnam-gu, Seoul. Ministry of SMEs and Startups

First, Jung Saeju, CEO of the global healthcare company Noom, delivered a special lecture sharing his entrepreneurial experiences and offering suggestions on entering the global market. In the subsequent open discussion, venture entrepreneurs and investors from Korea and abroad participated to address practical issues faced in the venture field, such as securing technological sovereignty and attracting global talent, and to discuss policy alternatives.

During the forum, Hansung Sook, Minister of the Ministry of SMEs and Startups, presented future strategies under the theme "Venture & Startup: Beyond Unicorns to K-Big Tech," emphasizing that ventures are the core growth engine of the Korean economy. The key directions highlighted included: ▲expansion of AI infrastructure such as high-performance GPUs, ▲establishment of regional advanced startup hubs, ▲enhancement of reward systems and global networks to Silicon Valley standards, and ▲improvement of the venture capital environment and creation of a virtuous ecosystem.

Minister Hansung Sook stated, "The history of ventures has shone on the foundation of technology, but it was ultimately the spirit of challenge of entrepreneurs that drove that technology," adding, "We will use the sense of urgency and awareness of issues gained from today's forum as policy milestones to build a solid foundation for our ventures to lead the global market."

The Ministry of SMEs and Startups plans to actively reflect the on-site opinions discussed at this forum and will soon announce measures to support the next stage of growth for Korea's venture ecosystem.

This content was produced with the assistance of AI translation services.