The South Korean Government Announces “Venture Complementary Measures for Korea to Become One of the Top 4 Global Venture Powerhouses
| Division | International Cooperation Division | ||
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| Date | 2021.08.30 | ||
| Writer | 황승현 | ||
| Headline | □ The South Korean Government announces “Venture Complementary Measures for Korea to Become One of the Top 4 Global Venture Powerhouses” and 12 core tasks to firmly support the Second Venture Boom by providing political support to ensure sufficient “talented individuals and funds” in the Korean venture ecosystem □ Measures to improve the global competitiveness of Korean venture companies include: ① Stock option reform; ② Abolishment of sunset provision and a complete reform of the Act on Special Measures for the Promotion of Venture Businesses; ③ Increasing the maximum technology guarantee to 20 billion won; ④ Bringing in one trillion won for global venture funds; ⑤ Introducing a new climate response surety worth 500 billion won and investing in ESG venture companies, etc. □ Measures to expand the venture investment market include: ⑥ New incentives for private investors of baby funds of the Fund of Funds and allow investment in kind for IP for venture funds; ⑦ Implementing a Silicon Valley-type venture fund governance; ⑧ Bringing in one trillion won for the early-stage start-up funds; ⑨ Exemption of surtax for accelerators, etc. |
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