Kim Jin-pyo: "Aggressive Response Needed for Economic Crisis... Domestic Unicorn Companies Should Conduct Online IR"

[Asia Economy Reporter Jeon Jin-young] Kim Jin-pyo, Head of the Emergency Economic Countermeasures Headquarters of the Democratic Party's COVID-19 National Crisis Overcoming Committee, proposed holding online investor relations (IR) sessions for domestic unicorn candidate companies as a response to the economic crisis.

[Image source=Yonhap News]

On the afternoon of the 6th, at a meeting of the Democratic Party's COVID-19 National Crisis Overcoming Committee Emergency Economic Countermeasures Headquarters held at the National Assembly Members' Office Building, Head Kim said, "To minimize the economic crisis, a more proactive and aggressive approach is necessary."

He stated, "Thanks to South Korea's exemplary handling of COVID-19, we have bought time to overcome the economic crisis until the end of this year," adding, "We must make the most of this period to create conditions that allow international financial capital, which currently cannot find investment destinations, to invest in domestic companies."

He continued, "As part of the K-Unicorn Project, online IR sessions for about 300 domestic unicorn candidate companies should be conducted promptly," explaining, "Attracting international financial capital can accelerate our government's goal of achieving 30 K-Unicorn companies and induce follow-up investments from domestic financial institutions, large corporations, and individual capital currently tied up in real estate."

Head Kim further emphasized, "If such a virtuous cycle is established, a venture ecosystem can be created," adding, "It will become a new growth engine for our economy and help restore economic vitality. This will be the way to minimize our economic crisis."

Additionally, he mentioned the need to expand the 'COVID-19 Free Passport' system, which permits businesspeople who have tested negative for COVID-19 to travel on business trips to Central Asia without a two-week self-quarantine. He added, "With President Moon Jae-in's leadership, if the 'COVID-19 Free Passport' is extended to the G20, it will be important to hold offline IR sessions in major overseas cities to encourage financial capital to invest in Korea."

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