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President Park pledges support for venture startups

President Park Geun-hye promised government support for venture start-ups in order to realize a creative economy, one of the five administrative goals proposed by the government. While visiting Alticast, a promising venture start-up producing broadcasting software, President Park said on March 12 that the government will introduce a support program for venture businesses to boost the economy through the convergence of broadcasting and communications.

"To foster venture start-ups, venture businesses have to make a creative effort first in the private sector, but the government also needs to help them in a timely way through promotional measures and systemic support," said the president. "To this end, the government will support venture start-ups and improve the system."

 President Park (second from right) tries a smart set-top box during her visit to Alticast, a broadcasting software firm in southern Seoul, on March 12 (photo courtesy of Cheong Wa Dae).

President Park (second from right) tries a smart set-top box during her visit to Alticast, a broadcasting software firm in southern Seoul, on March 12 (photo courtesy of Cheong Wa Dae).

“One of the key points of the creative economy is to foster future growth engines and create jobs through the convergence of the IT industry and future-oriented industries and of the broadcasting and communications industries,” said Park, explaining her vision of a creative economy.

Stressing the role of the Ministry of Science, ICT and Future Planning (unofficial translation), which will be introduced in the near future, President Park said that the government will “handle all related IT and communication affairs and enhance efficiency through a ‘one-stop decision-making process’ in order to help Korean firms better compete in the international market.”

”The future of Korea lies in the efforts of creative businesses and talented workers like you,” said President Park, cheering on the representatives of venture start-ups present at the meeting.

President Park (center) meets with CEOs of venture start-ups and chiefs of related government organizations on March 12 (photo courtesy of Cheong Wa Dae).

President Park (center) meets with CEOs of venture start-ups and chiefs of related government organizations on March 12 (photo courtesy of Cheong Wa Dae).

During her visit to the southern Seoul office of Altcast, President Park had a meeting with CEOs from small and medium-sized venture businesses and heads of related government organizations.

Attendees of the meeting included Minister of Knowledge Economy Yoon Sang-jick, President of the National IT Industry Promotion Agency Park Sooyong, Chairman of the Korea Venture Business Association Nam Min–woo, and Chairman of the Korea Software Industry Association Cho Hyun Jung.

By Yoon Sojung
arete@korea.kr

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