46.9% of venture corporations identified 'job creation through support for corporate growth' as a priority task that the next government should promote to revitalize the Korean economy.
The Korea Venture Business Association announced on the 12th the results of a survey conducted from the 18th to the 22nd of last month, targeting 570 domestic venture corporations regarding the venture corporation policies they hope to see from the next government.
According to the survey results, 90.5% of venture corporations responded that the current state of the Korean economy is 'bad,' and over half (53.7%) of them evaluated the overall management situation of corporations negatively.
Respondent corporations reported experiencing many difficulties in their overall business activities. In particular, 78.4% of the corporations indicated difficulties in 'expanding into overseas markets,' followed by 'fundraising, operation, and ensuring liquidity (73.5%)' and 'securing and maintaining necessary personnel (67.7%).'
Venture corporations indicated that the next government should prioritize 'job creation through support for corporate growth (46.9%)' as a task to revitalize the Korean economy. This was followed by 'strengthening and supporting future new technologies and growth engines (44.2%)' and 'promoting consumption through revitalization of domestic demand (31.6%).'
Additionally, respondent corporations stated that government policies such as 'expansion of R&D investment support,' 'strengthening support for securing and retaining exceptional talent,' and 'expansion of financial support like guarantees and loans' should be urgently addressed by the next government.
Lee Jeong-min, secretary-general of the Korea Venture Business Association, noted, 'Venture corporations are going through a more challenging period than ever,' and expressed hope that urgent tasks for revitalizing the venture ecosystem would be swiftly addressed after the new government takes office.