• KITA-Lawmaker Jung Tae-ho Held Meeting for Ventures and Startups
    2020-09-24 hit 1885

    KITA-Lawmaker Jung Tae-ho Held Meeting for Ventures and Startups

    -  Sought ways to revitalize innovative industries for job creation  -


    The Korea International Trade Association (Chairman: Kim Young-ju) and Democratic Party lawmaker Jung Tae-ho announced that they held a “Meeting to upgrade venture and start-up ecosystem” at KBiz Building on September 23rd.


    The meeting was hosted by Mr. Jung Tae-ho and organized by Innovation and Startup Group of the Korea International Trade Association. Eleven Korean start-ups participated in the meeting and expressed their opinions on ways to boost innovative entrepreneurship and promote scale-up and globalization in the midst of coronavirus pandemic.


    Seoul Robotics, Luxrobo, Monnit Korea, Wynehills Ventures, Zillinks, Toss Lab and Twinny requested institutional improvements so that large companies and public institutions can more actively utilize the innovative technologies and services of startups. They also raised various regulatory issues, including standardization of diverse communication protocols compatible with robots, deregulation in cybersecurity, and rapid approval of healthcare and artificial intelligent Internet of Things (AIoT: AI + IoT) products.


    Some argued that in order to promote cooperation between conglomerates and start-ups, various incentives, such as extra points to the shared growth index and easing restrictions on the number of business days for shopping centers, should be offered to conglomerates that provide test bed opportunities to start-ups. In addition, in order to expand collaboration with public organizations, ideas such as improving procurement procedures, expanding active administrative immunity from local governments, opening the cloud in the public market to foster non-face-to-face industries, and expanding support for eco-friendly social venture companies were presented.


    Lawmaker Jung Tae-ho, the former Senior Secretary to the President for Job Creation and the current member of Trade, Industry, Energy, SMEs, and Startups Committee of the National Assembly, said, “While the Korean economy is struggling in both domestic and export markets due to the outbreak of COVID-19, start-ups are contributing greatly to overcoming coronavirus crisis and creating jobs through innovative growth by developing new technologies and products,” and added, “We are trying to listen to the difficulties that start-ups face in the process of entering into the domestic and overseas markets and find solutions.”

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