Former and Current Chairmen Gather... KOSPO Holds 10th Anniversary Media Day

A Decade in Review:
Declaring the Vision for the Next 10 Years

The Korea Startup Forum (KOSPO) has presented its vision to build an ecosystem in which startups can achieve even greater growth over the next decade, marking its 10th anniversary.

On September 9th at Tipstown S6 in Gangnam-gu, Seoul, KOSPO held the '10th Anniversary NEXT Chapter Media Day' to share its achievements from the past 10 years and outline its vision for the future.

KOSPO was established in September 2016 with the goal of making Korea a "startup-friendly nation," initially bringing together about 50 startups. After officially launching as an incorporated association in 2018, approximately 3,000 startups and innovative companies are now participating in KOSPO.

According to KOSPO, member companies have created approximately 56,000 jobs and attracted a cumulative investment of about 29 trillion won over the past 10 years. The number of unicorn companies has increased to 17. During this period, KOSPO has also led efforts to improve policies and regulations involving the abolition of joint surety, the three major data laws, regulatory sandbox, the ban on mandatory in-app purchases, and the introduction of dual-class shares, among others.

Choi Jiyoung, CEO of Korea Startup Forum, is speaking at the '10th Anniversary NEXT Chapter Media Day' held on the 9th at Tipstown S6 in Gangnam-gu, Seoul. Photo by Choi Hokyung

On this day, KOSPO Chairman Kim Jaewon set forth five key directions for the next decade: market, regulatory innovation, dissemination, growth, and legacy. He stated his intention to create a market in which the government and public sector become the first customers of innovative companies, and to reform institutions so that new industries are not stifled by outdated regulations. He also revealed plans to reinforce a positive capital cycle that connects investment, exit, and reinvestment.

Additionally, KOSPO is emphasizing compensation systems such as Restricted Stock Units (RSUs) for securing startup talent, and building a "Pay It Forward" ecosystem in which the experience and capital of successful founders are passed on to the next generation of entrepreneurs.

Chairman Kim remarked, "We must move from a decade of proof to a decade of growth," and added, "The key to becoming an AI superpower is to become a startup superpower."

In addition to Chairman Kim, founding chairman Bongjin Kim, former chairman Jaewook Park, and former chairman Sangwoo Han attended the event to discuss KOSPO's journey over the past decade and the changes in the startup ecosystem. KOSPO also released a "10th Anniversary White Paper" documenting its history from the past 10 years.

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