MSS Minister Lee Young. (Photo: Platum)This is part of the BeyondBoundaries strategy included in the "Startup Korea”, a comprehensivepolicy for mid- and long-term support of startups announced by the ministry onAugust 30.
In the strategy, the MSSwill globalise the RoK’s startup ecosystem and improve connectivity betweenKorean startups and the world.
The Korean governmentaims to create a startup ecosystem in the RoK that is inclusive and welcomesskilled talents from all over the world to start their businesses.
The immigration systemfor startups will be reorganised to be more startup-friendly. It will enableforeign entrepreneurs to settle down in the RoK and collaborate with Koreanstartups more easily.
Apart from BeyondBoundaries, other main strategies of the “Startup Korea” are Solidarity and RegionalStartup, Equal Opportunity and Open Innovation.
Minister Lee Young statedthat the RoK startup ecosystem has become more active due to past governmentpolicies supporting entrepreneurship. However, the current environment requiresa new approach that includes digitalisation, AI revolution, and othertransformations.
The “Startup Korea”includes policies tailored to assist military personnel, youth, universitystudents, researchers, and serial entrepreneurs in starting their businesses.
Minister Lee statedthat several ministries, including the Ministry of Economy and Finance, theMinistry of Justice, and the Ministry of Science and ICT, collaborated with theMSS to develop comprehensive measures for the “Startup Korea” with the goal ofmaking the RoK a leading startup nation.
The minister statedthat the MSS aims to increase the number of Korean K-Startups in the top 100unicorns worldwide to five. Currently, only one Korean company is listed in thetop 100 unicorns according to CB Insights' company valuation./.
VNA
