President Moon Jae-in has been meeting with the heads of local venture firms,... pledging to transform South Korea into a country where startups not only grow... but thrive.
President Moon said Wednesday that the government will establish a fund specifically to generate over 10-billion U.S. dollars-worth of investment in startups over the next four years.
Noting there were just six so-called 'unicorn companies' in South Korea as of 2017,.. he will seek to boost that number to 20 by the end of next year.
A 'unicorn company' refers to a startup with a valuation of about eight-hundred-90 million U.S. dollars.