Yoon: "Technology Theft Is a Serious Crime... Will Be Firmly Prosecuted" (Comprehensive)

Presiding over the 'Startup Korea Strategy Meeting'... Government Unveils Detailed Support Measures
Complex Patterns of Technology Theft... Difficult for SMEs, Ventures, and Startups to Respond
Shift to Private Sector-Led Structure with Expanded Support... Encouraging Overseas Expansion

President Yoon Suk-yeol stated on the 30th that "technology theft is a serious crime" and emphasized that "it must be dealt with firmly through judicial measures, and the state will protect those who have suffered unjustly by ensuring they receive prompt relief and are not subjected to retaliation," addressing the startup sector struggling with technology theft disputes.

President Yoon expressed the government's commitment to protecting against technology theft while announcing plans to support venture and startup growth at the 'Startup Korea Strategy Meeting' held at the Blue House State Guest House that morning.

President Yoon Suk-yeol is speaking at the Startup Korea Strategy Meeting held at the Blue House State Guest House on the 30th.
[Photo by Yonhap News]

This meeting was convened to discuss the vision and strategies for Startup Korea to become a global startup powerhouse. The Ministry of SMEs and Startups announced the 'Startup Korea Promotion Strategy,' and at the government level, unveiled blueprints including the creation of a global startup hub, promotion of private venture investments, revitalization of regional startup clusters and improvement of regional venture investment environments, activation of open innovation for deep-tech startup cultivation, and regulatory reforms.

At the start of the meeting, President Yoon encouraged attendees by saying, "The world is facing complex crises and challenges," and "ventures and startups armed with ideas and technological capabilities are the main drivers of innovation." He added, "The government is pursuing two major Startup Korea strategies alongside a strong export drive for a new leap forward in our economy," and urged, "We must boldly transform the government-led startup ecosystem into one centered on the private sector and market."

He specifically revealed detailed support plans for nurturing ventures and startups. President Yoon promised, "The private sector should lead investments and grow the ecosystem independently, while the government should expand certain contributions and tax support for private mother funds," and pledged, "For strategic sectors like deep-tech, the government will support the formation of a Startup Korea Fund worth 2 trillion won together with large corporations and financial institutions."

Regarding technology theft mentioned during the meeting, it was defined as a serious crime with a firm promise of judicial action. This measure reflects the industry's view that technology theft in the venture and startup sector is tantamount to taking away life. In reality, technology theft incidents frequently occur during contract processes between startups with excellent ideas and large corporations. Given the complex and multifaceted nature of the behaviors, patterns, and issues of technology theft depending on the case, individual small and medium ventures and startups find it difficult to respond effectively.

In response, the ruling party leadership also expressed their willingness to support legislation. Kim Ki-hyun, leader of the People Power Party, said, "We will carefully examine legislation concerning technology theft risks that may arise when promoting open innovation with large corporations," and added, "To realize the Startup Korea strategy, we will spare no support at the party level, including legislation and appropriate budget allocation."

In his closing remarks, President Yoon encouraged active entry into overseas markets. He said, "The concept of the word 'startup' inherently includes global, digitalization, globalization, and the global market," and warned, "If our startups remain complacent with the domestic market and only look inward, they will neither access the global market nor innovate."

President Yoon's commitment to supporting ventures and startups is already fully reflected in the core national agenda. As a key policy to overcome the economic crisis announced at the beginning of the year by the Yoon administration, President Yoon emphasized in his first New Year's address after taking office that "we will open the era of 'Startup Korea' not only in IT and bio industries but also in defense, nuclear power, carbon neutrality, and entertainment."

The budget proposal for next year, released the day before, also includes support measures for ventures and startups. The Ministry of SMEs and Startups allocated 1.4452 trillion won solely for the budget titled 'Leap to a Global Startup Venture Powerhouse.' Additionally, the budget for contributions to the mother fund for nurturing ventures and startups next year increased by 44.8% from this year to 454 billion won. Through this, the plan is to create a total fund of 1 trillion won, and the budget for TIPS, a public-private joint startup discovery program, increased by 18.4% compared to this year.

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