President Lee Jae-myung Urges Second Chances for Startups After Failure

### President Lee Jae-myung Encourages Young Entrepreneurs: "Don't Fear Failure, We Will Create an Environment for You to Rise Again" On the 17th, President Lee Jae-myung met with young startup entrepreneurs and emphasized, "We will create an environment where you can boldly challenge yourselves, and even if you fail, you can rise again," urging a change in our society's harsh view of failure. At the 'Youth Startup Imagination Concert' held at Pangyo Startup Square in Seongnam, Gyeonggi Province, President Lee stated, "The institutional perception that one failure means the end is problematic," specifically pointing out the reality where individuals become credit defaulters due to joint guarantees, making normal economic activities impossible. He emphasized, "Those who have experienced failure are more likely to succeed, and statistically, as well as in advanced investment countries, those with experience in failure are preferred," expressing the importance of growth through failure. Regarding the 1 trillion won 'Re-Challenge Fund' announced by the Ministry of SMEs and Startups, he suggested expanding its size, saying it "seems a bit small," and promised to spare no effort in supporting young re-challengers so they are not discriminated against compared to first-time challengers. As a solution to the conflict between technological innovation and existing industries, he cited the case of the ride-hailing service 'Tada'. President Lee, observing Tada, which was suspended due to opposition from the taxi industry, expressed regret, saying, "Instead of extreme confrontation, we should have sought a third alternative through extensive discussion and explored compromises, such as giving equity to taxi operators." He emphasized that when new technologies clash with existing vested interests, the government and politics must play a mediating role, and that through extensive discussion, conflicts should be minimized, and a path beneficial to all should be found. At the Imagination Concert that day, President Lee listened to the opinions of startup representatives across three major sessions: 'Youth Challenge, Deep Tech, and Global', and earlier, he also experienced a humanoid robot at an exhibition booth. On the same day, the Ministry of SMEs and Startups announced the 'New Government Startup and Venture Policy Vision', which includes supplying a total of 11 trillion won in innovation funds by 2030, promoting the 13.5 trillion won 'NEXT UNICORN Project', and creating a 40 trillion won venture investment market. President Lee, who is focusing on youth-related events during 'Youth Week', is scheduled to hold a town hall meeting with young people on the 19th, following a meeting with young farmers.