Vice Chairman Kwon Daeyoung of the Financial Services Commission: "Government Support for Venture Companies Will Be Strengthened"

by Lee Changhwan

Published 30 Oct.2025 15:00(KST)

Vice Chairman Kwon attends the opening ceremony of IBK Changgong Daegu on October 30

Kwon Daeyoung, Vice Chairman of the Financial Services Commission. Photo by Jo Yongjun

The Financial Services Commission announced that Vice Chairman Kwon Daeyoung attended the opening ceremony of IBK Changgong Daegu on October 30.

IBK Changgong is an abbreviation of "Startup Factory" and serves as the startup support platform of IBK Industrial Bank, dedicated to supporting startup companies. Since the opening of the regular center in Mapo in December 2017, IBK Changgong has established eight startup spaces across the country, including the newly opened IBK Changgong Daegu. Daegu is the fourth regional hub, following Busan, Daejeon, and Gwangju. Internationally, IBK Changgong has expanded to the United States and Europe, and plans to upgrade its desk in Silicon Valley, United States, to a regular IBK Changgong center in November this year.

Vice Chairman Kwon stated, "For the sustainable growth and survival of the Korean economy, it is essential to move beyond growth centered on the Seoul metropolitan area and to fully harness the innovative capabilities of all regions nationwide." He added, "I appreciate IBK Industrial Bank's efforts to actively foster the regional startup ecosystem." He continued, "We will strengthen our support for venture and startup company leaders who drive innovative growth with passion and a spirit of challenge, as well as enhance the government's policy support."

Following the opening ceremony, Vice Chairman Kwon hosted a meeting with startup companies at IBK Changgong Daegu, where he listened to their suggestions and emphasized the government's commitment to revitalizing the regional innovation and startup ecosystem. The company representatives in attendance shared their success stories of growth alongside IBK Changgong and requested that the government continue to actively pursue policies supporting regional venture and startup development.

Vice Chairman Kwon stressed, "The government considers balanced regional development and innovation in the venture capital ecosystem as core tasks, and aims to significantly reform the role of finance to achieve these goals." He continued, "By shifting from real estate to advanced, venture, and innovative companies, from the Seoul metropolitan area to regional areas, and from deposits and loans to capital market investment, the transition to 'productive finance' will enable finance to play a leading role in creating new growth engines for Korea." He also stated, "The opinions presented on site today will be faithfully reflected in future policy design and institutional improvements."