Venture Industry "Welcomes Introduction of Multiple Voting Rights for Unlisted Venture Companies"

[Asia Economy Reporter Kim Cheol-hyun] The venture industry expressed its welcome on the 16th for the government's announcement of the 'Plan to Introduce Multiple Voting Rights Shares for Unlisted Venture Companies.'

On the same day, the Korea Venture Business Association released a statement saying, "The venture industry has continuously advocated for the introduction of a multiple voting rights system that facilitates the procurement of external funds without threatening management rights for innovative venture companies with weak financial power. We positively evaluate the government’s preparation of a concrete plan after discussions with related ministries."

The industry expects that once the government's 'Plan to Introduce Multiple Voting Rights for Unlisted Venture Companies' is implemented, founders will be able to exercise entrepreneurship from a long-term perspective based on stable management rights, providing an opportunity for venture companies to receive large-scale investments and grow into unicorn companies.

The association stated, "We hope that during the remaining legislative notice period, opinions from the industry and experts will be actively collected, and that improved opinions will be reflected in the National Assembly's legislative process to prepare a bill that embodies the purpose of the system introduction." It added, "The venture industry will also take the lead in achieving innovative growth and creating good jobs thanks to this announcement." Furthermore, the association added, "We hope the government will continue to listen to the difficulties and voices of on-site entrepreneurs in the innovative venture sector and boldly reflect them in policies to support major innovative industries in achieving visible results across various fields."

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