Venture Association Submits Policy Proposal to Candidate Oh Se-hoon: "Relax the 52-Hour Workweek"

[Asia Economy Reporter Kim Bo-kyung] The Korea Venture Business Association delivered a policy proposal including improvements to the 52-hour workweek system to Seoul mayoral candidate Oh Se-hoon on the 24th.

At the candidate invitation meeting held at the Korea Venture Business Association's main conference room in Guro-gu, Seoul, the association handed over the venture policy report to the candidate's campaign headquarters and discussed detailed issues with companies attending on-site.

In preparation for the local elections, the association, together with its nationwide branches, prepared a policy proposal titled "National Balanced Development Achieved Through Venture Businesses, Regional Innovation Plans for the Republic of Korea." Starting with the meeting with candidate Oh's campaign headquarters, the proposal will be delivered to major metropolitan mayoral candidates.

Candidate Oh said, "I will do my best to revitalize the startup ecosystem and nurture 40 global unicorn companies to create many sustainable jobs," adding, "I will also thoroughly review the good ideas contained in the policy proposal."

The association presented the vision of regional economic innovation centered on venture businesses in the policy report. As practical tasks, it proposed dividing them into common regional tasks (16 items), region-specific tasks (32 items), and central government cooperation tasks (18 items).

Common regional tasks include fostering digital innovation talent to activate the digital economy, building networks to promote overseas expansion, linking with base universities, and creating specialized innovative venture campus towns. Region-specific tasks include establishing an Innovative Venture Ecosystem Research Institute, improving the total quota regulation for university departments in cutting-edge fields, and establishing specialized innovation and venture financial institutions.

Central government cooperation tasks include improving labor flexibility for venture companies (such as the 52-hour workweek system), introducing a mutual aid system for venture company founders, and providing tax support for venture companies.

Kang Sam-kwon, chairman of the Korea Venture Business Association, said, "For the Republic of Korea to leap forward as an innovative startup nation, it is especially necessary to establish key hubs outside the metropolitan area. To this end, we have produced this policy report together with each branch of the association," adding, "We hope close discussions with each local government will continue for this purpose."

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