Korean Prime Minister: "10.5 Trillion Won Support for Venture and Startup... Improving Regulations That Hindered Investment"

Prime Minister Han Deok-su: "Urgent Need to Resolve Investment Contraction Model"

Prime Minister Han Duck-soo announced on the 20th that “10.5 trillion won in growth funds will be provided to ventures and startups, and regulations that have hindered investment will be actively improved.”

At the 21st Government Policy Coordination Meeting held at the Government Seoul Office on the same day, Prime Minister Han said, “Although ventures and startups account for a small proportion of all companies, they have made tremendous contributions to technological innovation and industrial development.”

He viewed the resolution of investment contraction issues as urgent for ventures and startups to grow into global companies and for a virtuous cycle ecosystem where new companies are born based on these models.

Prime Minister Han Duck-soo is attending the Government Policy Coordination Meeting held at the Government Seoul Office in Jongno-gu, Seoul on the 20th. Photo by Dongju Yoon doso7@

Prime Minister Han said, “(Through the support of growth funds) I hope that a virtuous cycle ecosystem will operate smoothly in our business environment.”

Regarding the rapidly growing problem of jeonse fraud, he said that he would first check whether countermeasures are being properly implemented. He urged, “The Ministry of Land, Infrastructure and Transport, the Ministry of Economy and Finance, and other related ministries should visit the field and actively assess the situation of the victims.”

He also mentioned the issue of regional extinction. Prime Minister Han said, “Currently, there are more than 60,000 vacant houses left unattended in rural areas,” adding, “As an effective measure to respond to rural population decline and regional extinction, we plan to renovate rural vacant houses. We intend to focus on transforming vacant houses into places that can provide unique experiences and community culture by referring to cases from other countries.”

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