Korea Startup Forum marks 10 years, calls for fairer startup market

  • Korea Startup Forum marked its 10th anniversary and called for regulatory reform.
  • Membership grew from about 50 startups to more than 3,000, including 17 unicorns.
  • Kim Jae-won unveiled challenge, innovation, growth, openness and responsibility for the next decade.

The Korea Startup Forum marked its 10th anniversary at a press conference in Seoul, with current and former chairs calling for regulatory reform and a fairer competitive environment rather than protection for startups. Launched on September 26, 2016, the independent, privately sponsored association has grown from about 50 members to more than 3,000 this year, including 17 unicorns. Its work includes proposing startup policy, seeking looser rules for early-stage companies, facilitating member exchanges and connecting firms with overseas opportunities. Chairman Kim Jae-won of Elice Group said founders must also examine their contribution to society. He introduced five values for the next decade: challenge, innovation, growth, openness and responsibility, and said the forum aims to become a leading private think tank on startup policy. Existing plans also cite about 56,000 jobs and 29 trillion Korean won in cumulative investment created or attracted by member companies, alongside initiatives involving market creation, regulatory sandboxes, startup compensation through Restricted Stock Units and social-impact programs.

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Korea Startup Forum marks 10 years, calls for fairer startup market - CoinPost Terminal