Park Young-sun "Goodwill United Becomes a Great Power"... Launch Ceremony of the 'Smart Daehanminguk Fund'

Ministry of SMEs and Startups
Support for Startups and Venture Companies in Non-Face-to-Face, Bio, and Green New Deal Sectors

Park Young-sun, Minister of SMEs and Startups, attended the 'Smart Korea Fund Launch Ceremony' held on the 20th at Tipstown S1 in Yeoksam-dong, Seoul, and spoke about the transition to the digital era and investment in innovative companies.

[Asia Economy Reporter Kim Daeseop] "We hope the Smart Korea Fund will become a representative example that once again demonstrates the strength of Korea in the transition to the digital era."

On the 20th, Park Young-sun, Minister of SMEs and Startups, said this at the 'Smart Korea Fund Launch Ceremony' held at Tipstown S1 in Yeoksam-dong, Seoul, adding, "Through recent experiences such as the nationwide joint sale, I realized that good intentions gathered together create great power."

The launch ceremony was attended by Minister Park Young-sun, Park Seri, CEO of Baz International, well known as the 'Golf Empress,' Jung Yoon-mo, Chairman of the Korea Technology Finance Corporation, and representatives from seven companies including Naver and Netmarble. Additionally, about 50 stakeholders including startup and venture capital CEOs participated online in a non-face-to-face manner.

Minister Park emphasized, "In the post-COVID-19 era, the main players of the digital economy are innovative startups and venture companies," adding, "Our society must unite to help these companies seize the global market and grow into world-class enterprises."

The Ministry of SMEs and Startups previously announced the Smart Korea Fund formation and operation plan at the National Policy Coordination and Inspection Meeting chaired by the Prime Minister on the 16th. This year, the goal is to raise a fund exceeding 1 trillion won. The main investment areas are startups and venture companies in the non-face-to-face, bio, and green new deal sectors, which are expected to grow in the post-COVID-19 era.

To accompany the challenges of junior companies, mentor companies participate from the fund formation stage. The government shares investment risks through first-loss coverage to encourage private sector participation. Mentor companies will support promising companies discovered by the Smart Korea Fund by utilizing their experience, networks, and infrastructure.

At this event, Park Seri, CEO, participated as an honorary investor of the Smart Korea Fund. Park said, "As both a player and an entrepreneur, crises have always come. I joined this event with the mindset of accompanying startups and venture companies like me so that they can have the strength and courage to overcome COVID-19 and challenge themselves to become global companies."

Kim Ju-sik, head of the Venture Investment Division at the Ministry of SMEs and Startups, explained the background of Park's honorary investor participation: "Among the public, Park Seri's barefoot full swing is often cited as a symbol of facing crises head-on," adding, "It carries the meaning of becoming a symbol of hope for domestic non-face-to-face, bio, and green new deal companies to overcome COVID-19 directly and seize the global market."

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