The Innovation Venture Association (hereinafter referred to as the Innovation Venture Association) held a ‘Venture Startup Policy Agreement Ceremony’ with the Small and Medium Business Committee of the Democratic Party of Korea (Chairman Kwon Chil-seung) at the Venture Business Association’s Lee Min-hwa Library at 2:00 PM on the 15th.
The policy agreement ceremony that day was attended by Kwon Chil-seung, chairman of the Democratic Party of Korea, heads of organizations affiliated with the Hyukdanhyup, and vice-chairmen of the Small and Medium Business Committee.
At this agreement ceremony, the Hyukdanhyup delivered a policy proposal containing 150 tasks in four major fields to realize an innovative powerhouse full of entrepreneurial spirit to the Democratic Party of Korea's election committee.
Key key tasks include ▲mandatory investment in venture and startups by 68 statutory funds, ▲reform of the working hour system including the 52-hour workweek system, ▲devolution of regulatory innovation standard national target system and industrial regulation authority to local governments, etc.
On this day, the Democratic Party of Korea and the Korea Innovation and Technology Institute signed an agreement, selecting the following as key tasks for the 21st presidential election to vitalize the innovative venture ecosystem: ▲ setting venture policy as a core agenda of economic policy, ▲ establishing measures to expand innovative finance such as utilizing pension fund investment pools, ▲ rationalizing labor systems for innovative growth of venture companies, and ▲ rationalizing regulations to discover new industries and expand opportunities for innovation.
At the signing ceremony today, Korea Venture Business Association Chairman Song Byeong-jun said, “It is time for ventures and startups to lead the future of the country as the starting pitchers of the Korean economy,” and added, “I hope that the policies to activate the venture and startup ecosystem proposed today will be realized as the top agenda of the next government’s economic policy.”
Together Democratic Party Chairman Kwon Chil-seung said, “The fostering of venture and startup businesses and small and medium-sized enterprises is a key policy task that our Democratic Party has continuously pursued,” and added, “We will use today’s policy agreement ceremony as an opportunity to further strengthen the growth foundation for venture and startup businesses.”
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