Chairman Jaewon Kim Announces New Vision for KOSPO: “From a Decade of Proof to a Decade of Growth”

KOSPO Marks 10th Anniversary with "NEXT Chapter" Media Day

Chairman Jaewon Kim Presents Five Key Directions: Market, Innovation, Dissemination, Growth, and Legacy

"Going forward, startups will become key partners in driving Korea’s next phase of growth."

Jaewon Kim, Chairman of the Korea Startup Forum (KOSFO), made this statement at the 'NEXT Chapter' media day commemorating the forum’s 10th anniversary, held on the 9th at Tipstown S6 in Gangnam-gu, Seoul. "We will move beyond a decade of proving ourselves and embark on the next chapter—10 years of growth for KOSFO," he said.

Chairman Kim noted that while it has become easier to launch a startup in the era of artificial intelligence (AI), global competition has intensified significantly. He explained that, as the speed of innovation driven by AI accelerates, Korean startups too must secure their competitive edge even more swiftly.

Jae-won Kim, Chairman of Korea Startup Forum, is delivering a presentation on the forum's vision at the 10th anniversary media day held on the 9th at Tipstown S6 in Gangnam-gu, Seoul. Korea Startup Forum

Accordingly, Kim presented five keywords—market, innovation, diffusion, growth, and legacy—as the focal directions to support startup growth over the next decade. He stated that, whereas the past 10 years were about proving the necessity of startups to society, from now on, the ecosystem’s structure must evolve so that technology and ideas can actually compete and grow in the market.

For the first keyword, 'market,' Kim explained that this means moving away from subsidy-based support and toward creating opportunities for startups to access real customers. He stated, "I believe the government can be the first customer in the market," and added, "The government and public institutions should take the initiative in purchasing the latest technologies and AI services." He emphasized, however, that the goal should be to cultivate companies that use the public market as a stepping stone to global expansion, rather than those that rely solely on government procurement.

For 'innovation,' he called for regulatory systems that adapt rules in step with the pace of technological advancement. Kim said, "I do not believe regulatory innovation means abolishing rules unconditionally," and continued, "After allowing sufficient experimentation with new technologies, rules should be swiftly enacted if problems arise." He also stressed the transition to a negative regulatory system, which regulates only what is necessary, instead of only permitting pre-approved businesses.

For 'diffusion,' Kim described a structure in which capital and experience spread throughout the ecosystem. Initial investments should lead to growth investments, and capital recouped from initial public offerings (IPOs), mergers and acquisitions (M&As), and secondary markets should flow back to foster new startups.

From the left, Jiyoung Choi, CEO of Korea Startup Forum; Jaewook Park, 3rd Chairman; Jaewon Kim, current Chairman; Bongjin Kim, inaugural Chairman; and Sangwoo Han, 4th Chairman, are having a special talk at the Korea Startup Forum's 10th anniversary media day held on the 9th at Tipstown S6 in Gangnam-gu, Seoul. Photo by Ho-kyung Choi

Moving to 'growth,' Kim asserted, "Ultimately, a company’s growth depends on its people," emphasizing the need to improve compensation systems for talent acquisition. As startups have less capacity to offer cash compensation compared to large or global companies, he noted the importance of actively utilizing equity-based compensation schemes such as stock options and restricted stock units (RSUs). He also explained that relevant laws and tax systems need to be upgraded to meet global standards.

The final keyword, 'legacy,' focuses on enabling successful entrepreneurs to give back their capital and experience to the next generation. This vision seeks to establish a "pay it forward" culture through investment in junior founders, talent development, and efforts to solve social problems. Kim emphasized that not only successes but also failures must remain assets within the ecosystem to help future founders reduce similar trial and error.

In conclusion, Chairman Kim stated that KOSFO will adopt market, innovation, diffusion, growth, and legacy as its key directions for the next 10 years and will endeavor to further expand these principles throughout the wider startup ecosystem.

Meanwhile, the event was attended by Kim along with inaugural chairman Bongjin Kim, third chairman Jaewook Park, and fourth chairman Sangwoo Han, who looked back on the past decade of KOSFO. In a special discussion, successive former chairmen reflected on clashes between regulation and established industries over the last 10 years, sharing their views on a fair market, social consensus, and the responsibilities of entrepreneurs.

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