Late Lee Minhwa, Founding Chairman of the Korea Venture Business Association, Honored as Science and Technology Merit Awardee of Korea

Founded Medison, Leading It to the Top of the World
A First-Generation Venture Entrepreneur in Korea

The Korea Venture Business Association announced on May 27 that the late Honorary Chairman Lee Minhwa was honored as a Science and Technology Merit Awardee in the field of convergence and promotion at the 9th Dedication Ceremony for Science and Technology Merit Awardees of Korea.

The bereaved family of the late Min-Hwa Lee, Honorary Chairman of the Korea Venture Business Association, is taking a commemorative photo with Byung-Hoon Bae, Minister of Science and ICT (Deputy Prime Minister), after receiving the Certificate and Nameplate of Scientific and Technological Merit. Korea Venture Business Association

The "Dedication Ceremony for Science and Technology Merit Awardees of Korea," hosted by the Ministry of Science and ICT and organized by the Korean Academy of Science and Technology, was held at the Grand Ballroom of the Westin Chosun Hotel in Jung-gu, Seoul on the same day.

This event was established under the "Act on the Treatment and Support of Science and Technology Merit Awardees" to designate individuals who have made remarkable contributions to the advancement of national science and technology as Science and Technology Merit Awardees and to honor their achievements.

Honorary Chairman Lee was recognized for his contributions as a pioneer who founded a venture company and dedicated himself to building the domestic venture infrastructure. In 1985, he established Medison, a company that developed and produced ultrasound diagnostic medical equipment, and grew it into the world's leading enterprise—making him a first-generation venture entrepreneur. Subsequently, in 1995, he founded the Korea Venture Business Association, served as its first chairman, and laid the foundation for the venture ecosystem by leading efforts such as the establishment of KOSDAQ and the enactment of the Special Act on Venture Businesses.

In 2009, as the inaugural Corporate Ombudsman, he worked to resolve regulatory challenges faced by venture businesses. He also served as a professor at his alma mater, KAIST, imparting entrepreneurial spirit to the next generation. Later, as Chairman of the Creative Economy Research Association and in other leadership roles, he devoted his life to the advancement of the venture industry.

The bereaved family attended the dedication ceremony that day and received the Science and Technology Merit Awardee Certificate and Plaque in the name of the President. In the second part of the ceremony, a commemorative lecture highlighted the significance of his designation and his achievements, honoring his legacy.

An association representative stated, "We find it deeply meaningful to be able to honor the legacy of the late Honorary Chairman Lee Minhwa, who devoted his life to the advancement of Korea's science, technology, and venture industry. The association will continue to carry on his legacy by supporting the innovative growth of venture businesses and fostering a healthy venture and startup ecosystem."

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