The Korea Venture Capital Association (VC Association) issued a statement welcoming the appointment of Han Seong-sook, former Minister of SMEs and Startups, as the new prime minister. The association praised Han as a leader who combines private-sector innovation with public-service experience.
In a statement released Monday, the VC Association said, "Prime Minister Han is a leader who combines private-sector innovation with rich public-service experience, having led a major domestic information technology (IT) platform company before serving as Minister of SMEs and Startups." It added, "During her tenure as minister, she took the lead in revitalizing the venture and startup ecosystem and driving the nation's future growth engines."
Han, a former CEO of Naver, served as the first Minister of SMEs and Startups under the Lee Jae-myung administration. During her tenure, she is credited with supporting the adoption of artificial intelligence (AX) by domestic ventures, startups, and small and medium-sized enterprises, and with developing the funding ecosystem. "The global market is currently seeing fierce competition to secure technological supremacy, and Korea's economy also faces complex challenges such as digital transformation and the restructuring of global supply chains," the VC Association said. "We expect that the inauguration of Prime Minister Han, who possesses a deep understanding of the field and bold policy implementation capabilities, will provide an opportunity for our venture and startup ecosystem to leap to the world's highest level during this period of upheaval."
President Lee Jae-myung presented the letter of appointment to Han at the guest house of the Blue House on the same day. This came 24 days after Han was nominated by President Lee on the 7th of last month. Han became the second prime minister of the Lee Jae-myung administration and the 50th prime minister. She is also the second female prime minister, the first in 20 years since former Prime Minister Han Myeong-sook in 2006. The National Assembly held a plenary session the previous day and passed the motion for consent to Han's appointment with 166 votes in favor and one invalid vote out of 167 members present. Han takes office Tuesday.
