"Expanding the Venture Territory"... Korea Venture Business Association Holds Venture Summer Forum in Busan After 3 Years

"Expansion of Venture Territory through Regional Venture Revitalization and Global Advancement"

The scene of the "19th Venture Summer Forum" held in 2019 in Yeosu, Jeollanam-do.

[Asia Economy Reporter Kwak Min-jae] The Korea Venture Business Association announced that it will hold the “20th Venture Summer Forum” under the theme “A Better Tomorrow, Challenges for the Future” for three days starting from the 24th at the Paradise Hotel in Haeundae, Busan. This event is resuming after a three-year hiatus due to the COVID-19 pandemic, with about 250 participants including venture company CEOs and executives, government ministry officials, and related organization representatives.

The Venture Summer Forum is a leading summer forum for the venture industry where venture entrepreneurs gather to create a foundation for corporate growth and leap through learning and exchange. It is hosted by the Korea Venture Business Association and Busan Metropolitan City, and sponsored by the Korea Technology Finance Corporation, Korea Credit Guarantee Fund, Small and Medium Business Corporation, Korea Women Venture Association, NICE D&B, NICE Information Service, and Korea Evaluation Data.

On the first day, the opening ceremony will be followed by the proclamation ceremony of the “Future Vision for the Expansion of the Korean Venture Business Territory,” a ceremony to pray for the Busan Expo bid, and a welcome dinner.

At the proclamation ceremony, there will be a ceremony to establish and reaffirm the private sector’s role and leadership in revitalizing local ventures and promoting the globalization of venture companies to overcome the global economic crisis, as well as the reading of the “Declaration for the Expansion of the Korean Venture Territory.”

In particular, the achievement goals for the next five years (until 2027) will be announced, including ▲achieving 500 local venture companies with 100 billion KRW in sales (230 companies as of the end of 2020) ▲achieving 5 local unicorn companies (1 company as of July 2022) ▲achieving 50% of venture companies expanding overseas (20.9% as of the end of 2020).

On the second day, lectures by venture entrepreneurs and industry experts will continue. Various programs such as the Busan regional session, startup session, and networking will be held.

Professor Ahn Yoo-hwa of Sungkyunkwan University’s Graduate School of China Studies will give a lecture on “Changes in the Global Market in the Mobility Era and Response Strategies for Korean Companies.” Following this, Song Gil-young, Vice President of Vibe Company, will lecture on “The Next 10 Years Changed After COVID-19, the Future of Ventures Predicted by Data Experts.”

A startup session will also be prepared to find ways to build business cooperation and networks between senior and junior entrepreneurs. This includes presentations on growth cases and collaboration tasks through inter-company cooperation, sharing business cooperation experiences and know-how, and a talk concert discussing efficient collaboration methods.

In the regional session, under the theme “Meeting Next-Generation Innovative Entrepreneurs Who Will Create New Miracles,” success stories of venture companies located in Busan and Yeongnam will be introduced. There will be time to explore development strategies for Busan-area companies such as technology exchange between companies, market expansion, and M&A.

On the final day, lectures and the closing ceremony will follow, including “Support Programs A to Z That Venture Entrepreneurs Must Know” by the Korea Technology Finance Corporation and the Korean Intellectual Property Office, and “Son Heung-min Has Never Fallen, Only Never Failed to Get Up” by soccer commentator Park Moon-sung.

Kang Sam-kwon, Chairman of the Korea Venture Business Association, said in his opening remarks, “The Korea Venture Business Association will continue to do its best to promote balanced growth and revitalization of regional ventures and the global expansion of innovative ventures, thereby expanding the Korean venture territory and enhancing the national competitiveness of the Republic of Korea.”

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