(President Yoon Suk Yeol speaking during Startup Korea Strategy Meeting)                                                  (Park Sung-jae, CEO of Excello, attended the Startup Korea Strategy Meeting)




(Yonhap News) President Yoon " Startups should be determined to take over the global market'... will do the best"


President Yoon Suk Yeol said "the need to boldly change the "startup ecosystem" from one that is government-led to one that is led by the private sector." on Aug 30.

President Yoon presided over the "Startup Korea Strategy Meeting" at reception hall of the Cheong Wa Dae earlier in the day and said,

“the country should stop relying on domestic consumption or a quantitative increase in business founders helped by government subsidies”

He mentioned the global complex crisis and premised, "We can overcome it only through constant innovation and international cooperation based on freedom and creativity."

“Ventures and startups armed with ideas and technology are the driving force of our innovation,” he said, listing global startup hubs he visited during his overseas trip, including the Boston Cluster in the United States.

He said, “Since the inauguration of our government, 7 unicorn companies have been created,” adding, “the largest in scale ever.”

"We need to lead fundamental changes in line with the rapidly changing global economic environment without settling for this achievement now," he said. "The most important thing is to expand our vision to the world."

He urged entrepreneur to have the will to "take over the global market."


He promised, “(Korea) will have the world’s best startup infrastructure and grow into a global startup hub,” and added, “The government will also support it hard.”

In particular, he suggested a specific roadmap that "the private sector should lead investment, grow its own ecosystem, and the government should contributes to private funds and expands tax benefits."

"In strategic areas, such as deep tech, the government will help by establishing a Startup Korea Fund worth 2 trillion won (US$1.5 billion) together with large businesses and the financial sector," he said.

President Yoon emphasized, "The government will be a strong supporter so that young people from around the world who lead innovation can gather in Korea,

and our startups can challenge themselves in solidarity with innovators around the world."

President Yoon stressed, "The government will be a strong supporter so that young people from all over the world who lead innovation can gather in Korea and our startups can challenge themselves

in solidarity with innovators around the world."

He added, "The private-centered economy, innovation in advanced science and technology, international cooperation for it, and the pursuit of internationalism are also for your challenge and innovation."


Minister Lee Young of SMEs and Startups announced the Startup Korea promotion strategy at the meeting.

This strategy included promoting bold global challenges, creating a global startup hub, promoting private venture investment, revitalizing local startup clusters,

supplementing the local venture investment environment, activating open innovation and improving regulations to foster deep tech startups.


In particular, a plan was proposed to establish a 'Global Tips' that supports the establishment of overseas corporations with investment in overseas venture capital and to operate

a "foreign expansion fund" that invests in ventures and startups that have entered overseas.

In addition, it was suggested to reorganize the start-up and work visa system, establish a "global startup center" that comprehensively supports inbound start-ups and employment,

and establish "Space K," an exchange channel for industry officials.


Meanwhile, Kim Gi-hyeon, chairman of the People Power Party, said, "We will carefully look at legislation related to technology theft that may occur while promoting open innovation with large cooperations,

" Lee Do-woon, the presidential spokesman said in a written briefing.

President Yoon said at the end of the meeting, "If our startups are satisfied with the domestic market and only look at the domestic market,

not only will they not be able to access the global market, but they will also not be able to innovate."

He continued, “What the government must do now is to unify our market and the global market into a single market.

To do so, we must change Korea in line with international standards and standards while removing unnecessary regulations.”

He repeatedly emphasized, "Our government aims for globalization, entry into the global market, and internationalism."

He defined the technology theft of large companies as a "serious crime" and promised “It must take firm legal action and the country will protect them from being quickly rescued and retaliated in the event of an unfair incident.



30th August 2023


source : 尹 "스타트업, '세계시장 차지하겠다' 의지 가져야…힘 보태겠다"(종합) | 연합뉴스 (