Venture Industry Welcomes Supplementary Budget, Citing Substantial Support for Innovative Companies

The venture industry has welcomed the government's 2026 supplementary budget, stating that it "reflects a commitment to strengthening the startup and innovation ecosystem by proactively responding to external uncertainties such as the Middle East war, and by going beyond crisis response."

On April 2, the Council of Innovative Venture Associations—which includes the Korea Venture Business Association, Innopolis Venture Association, and Early Investment Accelerator Association—issued an official statement, saying, "This supplementary budget is evaluated as having been appropriately allocated to provide timely funding needed to minimize damage to export-oriented ventures and startups, and to stabilize the management of small business owners in response to crises."

The council added, "In particular, we highly appreciate that the budget not only focuses on crisis response but also includes measures to revitalize the startup ecosystem and support AI transformation for local small and medium-sized manufacturing companies. This reflects the government's policy direction of pursuing both short-term crisis resolution and long-term growth drivers. The budget allocated for startups, ventures, and startups in this supplementary budget is an essential investment in building a foundation for future growth, and we expect it will serve as substantial support for innovative venture companies seeking to overcome crises through innovation."

Song Byungjun, Chairman of the Korea Venture Business Association, said, "In order for the supplementary budget to quickly reach innovative venture companies on the ground and serve as a catalyst for economic recovery and innovative growth, we urge the National Assembly to prioritize the recovery of the people's economy and to promptly pass the supplementary budget."

Kim Hakgyun, Chairman of the Korea Venture Capital Association, stated, "Amid ongoing external uncertainties, this supplementary budget will serve as an important opportunity to ensure the stable operation of the venture ecosystem and to provide a continuous investment base for innovative companies. We hope the supplementary budget will be passed quickly to have an immediate effect on the venture investment market."

Sung Misook, Chairwoman of the Korea Women Venture Association, commented, "Amid external uncertainties, this supplementary budget constitutes an essential investment for the crisis response and AI transformation of women-led ventures and startups to drive future growth. We hope the National Assembly will promptly pass the supplementary budget proposal for the recovery of the people's economy."

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