President Lee Jae-myung, currently visiting the United States, met with venture capital firms operating in Silicon Valley in downtown San Francisco on the 25th (local time) and called for investments in South Korean ventures and startups.

Venture capital firms specialize in investing in early-stage startups or ventures with high growth potential.

The event, held under the title "Silicon Valley Venture Investment Meetup," was attended by executives from six firms: Martin Casado, General Partner at Andreessen Horowitz; Alfred Lin, Co-founder at Sequoia Capital; Hemant Taneja, CEO at General Catalyst; Tony Florence, Co-founder at New Enterprise Associates; Barry Eggers, Co-founder at Lightspeed Venture Partners; and Vinod Khosla, Founder at Khosla Ventures.

In his opening remarks, President Lee promised, "The South Korean government will create the most favorable environment in the world for investment and business startups."

First, he stated, "We will boldly reform the visa system that hinders the influx of overseas startup talent and expand the cooperative foundation connecting domestic and foreign companies, research institutions, and investment institutions."

He also stated, "We will organically link the Fund of Funds, the National Growth Fund, pension funds, and private capital to support promising startups so they do not remain at the startup stage but grow into global enterprises."

Emphasizing this, he noted, "If South Korea's promising startups meet your global investment capabilities, investors will gain new growth opportunities. This is the most successful innovation model where investors and companies grow together."

He also highlighted the importance of strengthening cooperation between South Korea and the U.S. through startups.

President Lee said, "Beyond a long-standing security alliance, South Korea and the United States must now broaden the horizons of their cooperation into a technology alliance, innovation alliance, and startup alliance."

He added, "The U.S. possesses world-class venture investment capabilities and global networks, while South Korea boasts outstanding technological prowess, manufacturing competitiveness, and a dynamic startup ecosystem. If the strengths of our two nations are combined, we will be able to create the next generation of Samsung, Hyundai, SK, Naver, and world-leading innovative companies."

In particular, he repeatedly stressed, "When South Korean startups meet U.S. capital and markets, and U.S. investors and innovative companies connect with South Korea's technology, manufacturing, and talent ecosystems, both countries will become innovation partners building the next 30 years together."

President Lee requested, "It is very meaningful to discuss the future of startups in Silicon Valley, the heart of global innovation and venture investment. Please become a reliable partner of an 'irreplaceable South Korea.'"

The event also featured the signing of memorandums of understanding (MOUs) between the participating venture capital firms and the National Pension Service.

(Photo: Yonhap News)