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Korea Startup Forum Urges Govt to Prioritize Startup Growth

Photo by joongil Lee / Unsplash

Seoul, South Korea—The Korea Startup Forum has released a policy research report outlining 11 tasks for addressing the country's economic challenges. 

The report focuses on promoting innovation, enhancing global competitiveness, and building a digitally inclusive society.

The forum argued that startups could help solve problems such as the economic slowdown, low birth rate, aging population, regional decline, and climate crisis. 

It emphasized that South Korea should promote startups to achieve breakthroughs, as globally innovative companies have significantly impacted the global economy.

The forum suggested creating jobs, improving living conditions, and proposing digital innovation for local governments to revitalize declining regions.

It also called for creating a KRW 100 trillion ($74 billion) mega-fund to invest in global startups and strengthen investment competitiveness.

The forum emphasized the need for institutional improvements to attract foreign capital and highly skilled talent in the face of population decline. 

It highlighted the importance of bridging the digital divide, resolving conflicts between industries, and improving regulations that hinder new industries.

The Korea Startup Forum plans to continue its policy support activities throughout the general election period and after the inauguration of the 22nd National Assembly.

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