Lee calls for national shift toward a startup-driven economy

Jan 08, 2026, 08:08 am

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South Korean President Lee Jae-myung speaks at the Korea–China Venture Startup Summit held at the Shanghai International Convention Center in Shanghai on Jan. 7. / Yonhap

Lee Jae-myung said Wednesday that South Korea is seeking a “major transition to a national startup era,” pledging broad state support so that anyone with a good idea can launch a business.

Speaking at the Korea–China Venture Startup Summit held in Shanghai, Lee said the government should share the risks entrepreneurs face so that failure becomes “an asset for success, not an endpoint.”

“If young people and innovative talent have ideas, they should be able to start businesses without hesitation,” Lee said. “We will provide unwavering support so young entrepreneurs can challenge boldly and freely open new paths of innovation.”

Lee also stressed the need for an “organic connection” between the Korean and Chinese venture and startup ecosystems. He said linking Korea’s startup scene with China’s vast innovation environment would allow both countries to discover new and larger growth solutions.

“In the past, cooperation combined Korea’s capital and technology with China’s land and labor, but China has now reached a stage where it has overtaken Korea,” Lee said. “A new dimension of cooperation is required.”

He added that Korea and China should pursue a future defined by “competitive cooperation” and a “cooperative competitive relationship,” noting that the potential for synergy through collaboration is “virtually limitless.”

Tian Jie, vice mayor of Shanghai, introduced the city as a hub of entrepreneurship and dreams, saying that choosing Shanghai means choosing opportunity and investing in the future. He expressed hope that the platform would deepen exchanges between business leaders from both countries and lead to tangible outcomes.

The event was held under the theme “Korea–China Startup Ecosystems: From Connection to Joint Growth,” and featured sessions such as dialogues with venture startups, an investment conference, and business meetups. Exhibitions showcasing products and technologies from promising Korean startups seeking to enter the Chinese market were also held, alongside discussions on joint growth through ecosystem linkage.

Participants included executives from China’s BrainCo, MiniMax and China Merchants Bank International, as well as representatives from Korean firms such as Lunit, C&S, and MAUM AI.

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