The Venture Association is reflecting on entrepreneurship, a core value and starting point of the venture ecosystem, as it marks the 7th anniversary of the late Honorary Chairman Lee Min-hwa's passing. The association emphasized the need for the venture ecosystem to revisit the pioneering spirit of the first generation of venture entrepreneurs.
According to the Venture Association, a week starting from August 3 has been designated as a memorial week for Lee Min-hwa, during which an online memorial hall is being operated. The online memorial hall is open for anyone to participate and leave messages of remembrance.
Lee Min-hwa was a prominent figure in the first generation of venture entrepreneurs, significantly contributing to the establishment of South Korea's venture ecosystem through the enactment of the Special Act on Venture Businesses, policies to foster venture companies, and the revitalization of KOSDAQ. As the first president of the Venture Association, he dedicated himself to enhancing the rights of venture companies and promoting entrepreneurship.
The association noted that the venture ecosystem is at a new turning point due to changes in capital market systems, including KOSDAQ, and the venture investment environment. It stressed that institutional support, along with the entrepreneurial spirit that drives challenge and innovation among venture entrepreneurs, is becoming increasingly important for the continuous growth and resurgence of the ecosystem.
Song Byeong-jun, chairman of the Venture Association, also emphasized in his New Year's address the need for a spirit of challenge and innovation in line with the 'era of great transformation,' including the transition to artificial intelligence.
A representative from the association stated, 'Now, as the venture ecosystem faces a new turning point, it is time to reaffirm the entrepreneurial spirit demonstrated by the late Lee Min-hwa.'
* This article has been translated by AI.
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