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Korea Startup Forum Marks 8 Years, Pushes for Policy Changes
Source: Korea Startup Forum

Korea Startup Forum Marks 8 Years, Pushes for Policy Changes

Philip Lee profile image
by Philip Lee

Seoul, South Korea—The Korea Startup Forum held its 8th-anniversary debate at the National Assembly on Thursday, emphasizing cooperation between entrepreneurs, the government, and the National Assembly to strengthen the startup ecosystem.

The event, attended by approximately 100 participants, including government officials and startup representatives, saw the signing of a memorandum of understanding between the Korea Startup Forum and the Digital Economy 3.0 Forum, a National Assembly research group formed with lawmakers.

The Korea Startup Forum, which has grown to 2,430 member companies over eight years, outlined eight policy tasks for the 22nd regular session of the National Assembly:

  • Cautious implementation of online platform laws and e-commerce regulations
  • Resolution of conflicts between old and new industries
  • Improvement of the regulatory sandbox
  • Enhancement of startup talent attraction policies
  • Promotion of data utilization with privacy considerations
  • Encouragement of competitive bidding for large corporations' internal transactions
  • Improvement of startup labor regulations
  • Support for investment activation and global competitiveness

The forum launched an 18-member legal support team to address legal and institutional barriers faced by startups. 

Team members include lawyers, accountants, and patent attorneys.

Korea Startup Forum Chairman Han Sang-woo acknowledged current challenges, including decreasing early-stage startup investments. 

He committed to making South Korea a "startup powerhouse" through innovation and public-private collaboration.

The event featured policy presentations on various topics. 

These included legalizing telemedicine and allowing medication delivery, enhancing legal AI development through improved access to legal data, and promoting regional startup ecosystems.

A panel discussion on start-ups moderated by Professor Jeon Sung-min from Gachon College shared experiences of overcoming challenges and visions for the future.es and future visions.

Panelists included Megazone Cloud, Agmo Studio, Moviation, and Musicow CEOs.

The debate reflects South Korea's efforts to nurture its startup ecosystem as a driver of economic growth in the face of global competition and market changes. 

Government and National Assembly representatives expressed support for strengthening policies to aid startup growth and innovation.

Philip Lee profile image
by Philip Lee

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