"Urgent Need for Regulatory Improvement to Revitalize Startups" ... Industry United in Voice

KOSPO Holds Policy Talk with Democratic Party Lawmakers
Discusses Strategies for Attracting Global Talent and Innovating Public Services

Startup CEOs unanimously agreed that various regulatory improvements and policy supplements are necessary to improve the domestic startup environment.

Korea Startup Forum announced on the 26th that it held an innovation roundtable titled "Again, a Country Good for Startups" with members of the Democratic Party of Korea at the National Assembly Members' Office Building on the 25th.

This roundtable was co-hosted by Jang Cheol-min, Kim Han-gyu, Lee Eon-ju, and Lee Jae-gwan from the Democratic Party's Industry, Trade, Energy, Small and Medium Venture Business Committee, and Park Sang-hyuk, Kang Jun-hyun, Kang Hoon-sik, Kim Nam-geun, Lee In-young, Lee Jeong-moon, and Jeon Hyun-hee from the Political Affairs Committee.

The Korea Startup Forum held an innovation meeting on the 25th at the National Assembly Members' Office Building with members of the Democratic Party of Korea under the theme "A Country Where Startups Are Good Again." Photo by Korea Startup Forum

Lee Hyun-jae, CEO of Yes Future, said, "Since domestic startups are positively considering hiring highly capable foreign talent, I hope that related regulatory improvements and policy supplements will be made so that talent exchange and market entry between Korean and overseas startup markets can proceed smoothly."

Nam Sung-jun, CEO of Dajayo, stated, "To further activate local startup entrepreneurship, many opportunities should be provided to local entrepreneurs, and institutional inconveniences must be improved. The regulatory sandbox is currently operated mainly by central government ministries, but nationwide legislation should be enacted so that local governments can also utilize it."

Kim Cheol-beom, CEO of Deep Plant, emphasized, "As retirements among middle-aged and older adults are accelerating, support and systems specialized for middle-aged entrepreneurship should be further activated, and policies for the middle-aged startup group, such as educational programs to help middle-aged personnel settle well in the startup market, should be considered."

Kang Ki-hyuk, Vice President of Newbility, said, "Korea also needs to prepare concrete strategies and responses to strengthen the AI industry like the US and China, and regulatory improvements and reviews such as customized support measures for AI robot companies by early, middle, and late stages, and easing requirements for technology-special listing are necessary."

Jung Ji-eun, CEO of Codit, said, "Unlike overseas countries such as the US, Korea's excessive regulatory environment makes it difficult to attract investment, and startups also find it hard to understand the regulations. Public procurement and regulatory innovation are important to promote the growth of the Govtech industry and increase startup participation, and it is necessary to create a technology protection and fair competition environment for them."

In the subsequent comprehensive discussion, ways to spread startup growth and entrepreneurial spirit and directions for policy improvement were discussed. Assemblyman Kang Hoon-sik emphasized, "Startups need strategies to understand gaps in related laws and regulations and effectively utilize the National Assembly for business growth." Assemblyman Park Sang-hyuk said, "I deeply sympathize with the innovation startups will achieve and will work on regulatory improvements and policy support so they can realize their growth potential."

Han Sang-woo, Chairman of Kospo, said, "Despite difficulties such as economic crises, I ask the government and the National Assembly to work together to create a society that respects entrepreneurs who challenge innovation, accumulate failures, and grow," adding, "We will strive to enable startups to achieve results in a free and fair competitive environment."

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