Kwon Chil-seung: "KOSDAQ 1000, Venture Fever Blowing Again... Doing Our Best to Sustain the Venture Boom"

Kwon Chil-seung, Minister of SMEs and Startups

[Asia Economy Reporter Kim Bo-kyung] Kwon Chil-seung, Minister of SMEs and Startups, welcomed the KOSDAQ index surpassing 1000 points on the 14th and stated that he will do his best to ensure the 'Second Venture Boom' continues.

On the same day, Minister Kwon wrote on his Facebook, "It took 20 years and 7 months to see the number 1000 on the KOSDAQ again," adding, "After 20 years and 7 months, the 'venture fever' has returned, and the Second Venture Boom has arrived."

He said, "In January, the Ministry of SMEs and Startups announced the status of small and venture companies in the stock market as we entered the era of KOSPI 3000," and added, "An analysis of the top 20 companies by market capitalization in the domestic securities market showed that there are 13 domestic venture companies in the KOSDAQ market and 4 in the KOSPI market."

He continued, "While there were only 6 venture companies among the top 20 by market capitalization in KOSDAQ in 2001, the number steadily increased to 10 in 2010 and 13 in 2020."

Minister Kwon explained, "Looking at the fund situation, which is the catalyst for growth, it is clear that the 'venture fever and the Second Venture Boom' have arrived," and added, "Except for 2018, the annual return trend of liquidated funds over the past five years shows that the more KOSDAQ IPO companies among the companies invested by liquidated funds, the higher the returns."

Finally, he pledged, "The record high fund formation and the virtuous cycle of companies invested by funds growing into national companies through stock market listings are strengthening the backbone of our economy," and said, "I will do my best to ensure that the 'Spring of the Korean Economy~ The Second Venture Boom,' which has come close to us, continues."

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