Rep. Lee Jun-seok Discusses Startup Innovation Growth Strategy with KOSPO

## KOSPO and Lee Jun-seok, A United Voice to Break Down Regulations Hindering Innovation… Proposing a 'Standard Nation System' The Korea Startup Forum (KOSPO) and Reform Party lawmaker Lee Jun-seok issued a strong message of solidarity to dismantle regulatory barriers hindering new industry growth. At the 'Innovative Republic of Korea' meeting on the 18th, startup representatives from various fields, including AI robots, non-face-to-face medical treatment, and climate tech, emphasized the need for practical regulatory improvements and policy enhancements. Han Sang-woo, Chairman of KOSPO, pointed out the reality that innovative services face backlash from vested interests and legal pressure, citing the recent failed attempt by Daiso to sell health functional foods as an example of the difficulties startups experience. He stated that this clearly demonstrates the problems of the current regulatory system that suppresses innovation. Representatives from various fields attending the meeting conveyed insights from the ground. Hwang Sung-jae, CEO of XYZ, an AI-based service robot company, suggested that expanding labor flexibility in retail businesses, vitalizing venture capital and exit markets, and strengthening academia-industry linkages are essential for deep tech growth. Jung Ji-sung, CEO of SOS LAB, Korea's first LiDAR listed company, emphasized pride in technology-specialized listed companies and the creation of a positive social atmosphere for entrepreneurs. Lee Ho-jun, CEO of Korea Green Data in the climate tech sector, lamented that excessive regulations make market entry difficult and hinder the emergence of unicorn companies, urging the creation of an environment for globally competitive growth. Jung Jin-woong, CEO of the non-face-to-face medical treatment platform Dr.Now, stated that while major countries like the US and China have achieved innovation, Korea is the only OECD country where non-face-to-face medical treatment is not legalized, emphasizing the need for a favorable environment. Lawmaker Lee Jun-seok proposed the introduction of a 'Standard Nation System' to enable startups to innovate more quickly and freely in the global market. He explained that a key measure could be the transition to 'negative regulation,' where anything currently allowed by law in advanced countries like the US in specific IT sectors would also be permitted in Korea. Han Sang-woo, Chairman of KOSPO, re-emphasized that startups are the new growth engine of the Korean economy, stating that new industry innovation directly translates to national competitiveness. KOSPO pledged to do its best as a running mate for the startup ecosystem, strengthening new industry competitiveness through active cooperation with the National Assembly and the government. Furthermore, KOSPO plans to drive the development of the startup ecosystem this year by expanding support centered on new industries such as AI, semiconductors, and deep tech, and establishing new industrial councils. Improving outdated regulatory systems that hinder innovation and creating an environment where startups can freely challenge themselves and grow is emerging as a key task that will determine the future competitiveness of the Republic of Korea.