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| Korea Venture Business Association | |
|---|---|
| Name | Korea Venture Business Association |
| Founded | 1991 |
| Headquarters | Seoul |
| Region served | South Korea |
| Membership | Venture firms, startups, angel investors |
Korea Venture Business Association is a South Korean industry association representing venture capital firms, startup founders, and angel investors. The association interfaces with national bodies in Seoul and regional hubs such as Pangyo and Busan, and engages with international organizations in Silicon Valley, Tokyo, and Beijing to promote venture investment, innovation, and entrepreneurship. It works alongside regulatory institutions, financial centers, and university incubators to foster a startup ecosystem that connects private capital, research institutes, and accelerator networks.
The association acts as a coordinating body among Seoul-based financial institutions, Busan Port economic forums, Pangyo Techno Valley clusters, and provincial startup centers such as Daejeon Institute of Technology. It collaborates with the Korea Development Bank, Shinhan Financial Group, Hana Financial Group, and the Industrial Bank of Korea while monitoring policy from the National Assembly and the Blue House. The group liaises with university incubators at Seoul National University, Korea Advanced Institute of Science and Technology, Pohang University of Science and Technology, Yonsei University, and Korea University, and engages with global organizations like the World Bank, Asian Development Bank, Organisation for Economic Co-operation and Development, and the United Nations Conference on Trade and Development.
Founded in 1991 amid structural reforms following the 1988 Seoul Olympic Games and the 1997 Asian financial crisis aftermath, the association emerged as part of a broader shift that included the establishment of the Korea Exchange, Korea Investment Corporation, and financial regulatory realignments after the IMF program. Early interactions involved corporate groups such as Samsung Group, Hyundai Motor Company, LG Corporation, and SK Group that later sponsored venture funds. The organization evolved through collaborations with government initiatives such as the Ministry of SMEs and Startups, the Ministry of Science and ICT, the Small and Medium Business Administration, and national R&D programs tied to the Korea Institute of Science and Technology and Electronics and Telecommunications Research Institute.
Members include venture capital firms, corporate venture arms from chaebol including CJ Group and Lotte Corporation, angel networks connected to organizations such as the Korea Business Angels Association, university spin-offs from Ewha Womans University and Sogang University, and startup accelerators like SparkLabs and D.CAMP. The governance model parallels boards seen in the Korea Federation of Small and Medium Business and chambers such as the Korea Chamber of Commerce and Industry, with committees for investment standards, compliance with the Financial Services Commission, and liaison offices interacting with the Fair Trade Commission. Regional chapters coordinate with Busan IT Promotion Agency, Gwangju Creative Economy Innovation Center, and Jeju Free International City Development Center.
The association organizes investment forums, demo days, and pitch competitions in venues like COEX, KINTEX, and the Dongdaemun Design Plaza, often partnered with the Korea Venture Investment Corporation, Korea Venture Capital Association, and Tech Incubation Centers. Programs include mentorship drawn from alumni of SK Telecom, Naver Corporation, Kakao, Coupang, and Hyundai Mobis; seed funding collaborations with Mirae Asset Financial Group and Korea Investment & Securities; and accelerator curricula aligned with standards from the Global Accelerator Network and Plug and Play Tech Center. Training modules reference methodologies used at Stanford University, Massachusetts Institute of Technology, and Imperial College London entrepreneurship programs.
The association petitions for regulatory changes before the National Assembly committees on Trade, Industry, Energy, and SMEs, and engages with the Financial Supervisory Service and the Ministry of Economy and Finance over taxation, fund formation, and investor protections. It shapes guidelines related to the Act on the Promotion of Venture Businesses and interacts with bodies implementing corporate governance codes influenced by the International Organization of Securities Commissions and the Basel Committee on Banking Supervision. Its advocacy has influenced initiatives similar to the Startup Growth Engine and corporate venture capital tax incentives pursued in Tokyo Metropolitan Government and Singaporean agencies.
International outreach includes bilateral exchanges with counterparts in the United States such as the National Venture Capital Association, in Japan with the Japan Venture Capital Association, and in China with Shenzhen and Shanghai venture forums. It participates in multilateral dialogues with the Association of Southeast Asian Nations startup councils, the European Investment Fund, and the Israel Innovation Authority, and conducts study missions to Silicon Valley, Tel Aviv, and Berlin to benchmark accelerators, incubators, and sovereign wealth fund interactions like those of Temasek Holdings and Qatar Investment Authority.
Prominent individuals associated with member firms include founders and executives who moved between startups and conglomerates such as the founders of Naver, Kakao, Coupang, and Woowa Brothers; venture capital leaders formerly at SoftBank Ventures Asia, Altos Ventures, and IMM Investment; and angel investors linked to Yonsei and Seoul National University alumni networks. Corporate venture leaders from Samsung NEXT, Hyundai CRADLE, LG Technology Ventures, and SK hynix Innovation Center have participated in programs, along with serial entrepreneurs who spun out companies incubated at KAIST, POSTECH, and Ewha Womans University.
Category:Organizations based in Seoul Category:Venture capital Category:Startup accelerators