Korea Startup Forum Unveils "Scale-up Korea" Policy Plan

Seoul, South Korea—The Korea Startup Forum (KSF) has released a policy proposal document outlining recommendations for the next administration. 

The document focuses on regulatory reform and institutional changes to support the startup ecosystem.

The "Scale-up Korea" document outlines three policy directions and nine specific initiatives that KSF states aim to implement. 

It positions startups as drivers of economic growth amid technological competition and demographic challenges.

According to the statement, KSF, which represents over 2,500 startup companies, called for the next administration to address 100 regulatory issues within its first 100 days in office.

The proposal comprises three categories: growth engine development, infrastructure redesign, and institutional reform. 

Specific recommendations include measures to diversify business models, integrate AI technologies, improve global market access, reform public data systems, and redesign regulatory frameworks.

In the statement, Ji-eun Jung, Co-chair of KSF's policy committee and CEO of CODIT, said, "Our proposal includes regulatory improvements and reform directions."

KSF reported that its member companies collectively generate annual revenues of approximately KRW 20 trillion (approximately US$13.99 billion) and employ approximately 50,000 people. 

The organization also stated that these companies have attracted cumulative investments totaling around KRW 33 trillion (US$23.09 billion).