Vice Chairman Daeyoung Kwon: "We Will Spare No Effort to Support the Growth of Ventures and Startups"

Financial Services Commission Holds Roundtable with Venture and Startup Industry
Vice Chairman Kwon Highlights the Need for Startups to Pioneer New Industries and Markets
Plans to Expand Networking Events and Support Global Competitiveness

Kwon Daeyoung, Vice Chairman of the Financial Services Commission (center front row), listened to the vivid voices of companies actively working in the actual industry on the morning of the 29th at the D.CAMP Seolleung Multipurpose Hall in Gangnam-gu, Seoul. The event was attended by executives and representatives of major domestic startup associations, startups recommended by startup support organizations, staff from startup support organizations, venture capitalists, and accelerators. Photo by Financial Services Commission

The Financial Services Commission announced that on the morning of the 29th, Vice Chairman Daeyoung Kwon presided over a roundtable discussion with the venture and startup industry at D.CAMP in Gangnam-gu, Seoul.

At the event, Vice Chairman Kwon explained, "The main framework of our industrial policy can be summarized into three key areas: securing a significant lead in advanced strategic industries such as shipbuilding, semiconductors, and artificial intelligence (AI); promoting the AI transformation (AX) and transition to specialty (high value-added) sectors in traditional core industries; and supporting small and medium-sized partner companies, as well as pioneering new industries and markets that will drive our economy 20 years from now." He emphasized, "It is the venture and startup companies gathered here today that must take the lead in pioneering new industries and markets, which is the third task."

He stated, "For venture and startup companies, the most important thing is the opportunity to make themselves known in the market and to establish references through these opportunities. The more chances they have to meet with investors, the better." He added, "We will increase networking events in cooperation with KDB NextRound, IBK Changgong, D.CAMP, Korea Fintech Support Center, Korea Credit Guarantee Fund, and private financial institutions."

He continued, "Beyond government support, we will also seek ways to vitalize venture investment by private conglomerates and financial companies, and diversify exit markets through the KOSDAQ market and others, establishing a virtuous investment cycle."

Vice Chairman Kwon mentioned, "We will support global market entry and attracting overseas investors so that companies can secure global competitiveness beyond the domestic market. We also plan to consider bold measures to improve practices, regulations, and accounting systems that do not meet global standards and hinder investment and innovation."

A total of 43 participants attended the roundtable, including startup entrepreneurs, venture investors, and staff from startup support organizations.

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