Korea is making it increasingly clear that venture capital is no longer a side actor in its startup agenda, but a central pillar of national competitiveness. By publicly elevating VC performance and honoring portfolio builders at the Korea VC Awards 2025, policymakers are sending a signal to founders, LPs, and global investors that the next phase of Korea’s innovation strategy will be shaped through capital, not only through programs.

Korea VC Awards 2025 Puts Venture Funds at the Center of Policy Messaging

On November 27, First Vice Minister Noh Yong seok of the Ministry of SMEs and Startups (MSS) attended the Korea VC Awards 2025 at Signiel Seoul in Songpa District, Seoul.
The annual event, now in its sixteenth year, is hosted and organized by Korea Venture Investment Corporation (KVIC) as a platform to share the performance of the national Fund of Funds and to facilitate networking among fund managers and ecosystem stakeholders.

Vice Minister Noh underscored the government’s view of venture capital as a strategic partner in Korea’s global ambitions. He stated that Korea’s rise as a global venture powerhouse depends on the role of venture capital and pledged that MSS will continue to support VCs so they can drive innovative growth by investing in strong ventures and startups.

During the ceremony, Noh presented MSS Ministerial Commendations to outstanding management firms and investment professionals in the Mother Fund and its sub funds, as well as to contributors recognized for their impact on the broader venture ecosystem.

Fund of Funds as Policy Lever in Korea’s VC Market

The Korea VC Awards series has evolved into a visible barometer of how public capital and private venture firms interact inside the Korean startup ecosystem.
KVIC, as manager of the national Fund of Funds (Mother Fund), channels government and policy capital into private venture funds that invest in early and growth stage startups.

This Fund of Funds structure has become one of the most important levers the Korean government uses to influence market behavior.

By selecting and rewarding top performing general partners, MSS and KVIC shape incentives around sector focus, stage preference, and risk appetite in line with broader policy goals such as deep tech, regional innovation, and scale up support.

The 2025 edition of the awards takes place at a time when Korea is openly aiming to move its startup economy beyond creation and into sustained global competitiveness.
In this context, elevating venture capital as a core policy partner is consistent with recent government messaging around a “global venture powerhouse” trajectory.

Government, VCs, and Ecosystem Contributors

Vice Minister Noh Yong seok framed venture capital as a decisive actor in Korea’s next growth chapter.

He stressed that Korea’s ambition to become a global venture leader hinges on the role of VCs, and emphasized that MSS will continue to do its utmost to help venture capital firms become leading players in driving innovative growth through investment in outstanding ventures and startups.

Recognition at the Korea VC Awards was structured across several categories.
The “VC of the Year” commendation went to Woori Venture Partners, SL Investment, and BA Partners, reflecting their performance as management firms of Mother Fund and sub fund portfolios.

In the “Best Investment Professional” category, Kim Jae han, Executive Director at Woori Venture Partners, was honored for his work as a lead investment officer.

Contributors to the broader venture ecosystem were also recognized, with commendations presented to EcoPro Partners, Han River Partners LLC, and Ko Jong hyuk, Deputy General Manager at Korea Trade Insurance Corporation.

By formally connecting these awards to the MSS Ministerial Commendation system, the government is not only celebrating outcomes. It is creating an official recognition ladder that ties public policy goals to private investment behavior.

Positioning VCs as System Architects, Not Just Capital Providers

The messaging at Korea VC Awards 2025 reinforces a clear narrative shift inside Korea’s startup strategy. Venture capital is being framed less as a passive funding source and more as a system architect that can influence which sectors grow, which regions benefit, and which companies manage to scale beyond domestic boundaries.

This aligns with Korea’s broader scale-up strategy, where policy attention is increasingly directed at high growth startups that need late-stage capital, cross border networks, and patient investors to reach global markets.

In such a context, VCs that manage public capital through the Fund of Funds are expected to do more than seek financial upside. They are implicitly tasked with identifying the next generation of globally competitive Korean companies.

The choice to honor both domestic firms and globally positioned investors such as Han River Partners LLC and to recognize institutions like Korea Trade Insurance Corporation also signals that Korea’s venture ecosystem is expanding beyond pure equity into export risk, insurance, and cross border capital flows.

This mirrors a gradual integration of trade, finance, and innovation policy that is typical of ecosystems seeking to compete with established venture hubs in North America, Europe, and other parts of Asia.

What Global Stakeholders Should Watch Next

Founders watching the Korea VC Awards 2025 may see that government-backed capital and leading venture firms are moving in closer alignment with the goal of global venture competitiveness rather than limiting their focus to domestic startup creation. This shift may open stronger pathways to support export-driven models, larger scale-up rounds, and more active engagement in overseas markets.

Investors and LPs evaluating Korea as an emerging venture capital hub can also read an important signal from the event. Policy makers are willing to use the Fund of Funds, public recognition, and regulatory levers to nudge venture behavior in directions that support national innovation priorities.

Understanding how KVIC allocates capital and how MSS frames “excellent” VC performance will become increasingly important for anyone seeking to partner with or compete against Korean funds.

As Korea advances its ambition to become a global venture powerhouse, the real test will lie in execution. If venture capital firms can align the search for returns with the government’s global competitiveness agenda, Korea’s VC industry may evolve into one of the key engines driving the country’s next wave of innovation led growth.

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