Lee So-young: "I will maintain the Youth Startup Academy... Its value cannot be measured in money"

[Financial News] Minister of SMEs and Startups Lee So-young stated, "We have decided to find a way to maintain the Youth Startup Academy without abolishing it."
According to industry sources on the 4th, Minister Lee responded in this manner to a social media comment the previous day requesting a "review of the abolition of the Youth Startup Academy."
The Youth Startup Academy, which opened in 2011 and is now in its 16th year, has produced more than 9,300 young entrepreneurs to date, including unicorn companies such as Toss and Zigbang. Previously, while formulating next year's budget, the Ministry of SMEs and Startups had been considering ending the existing Youth Startup Academy program while allocating a budget for the 'Re-challenge Success School,' which helps failed companies make a comeback using the existing Youth Startup Academy budget.
Accordingly, the Youth Startup Academy Alumni Association emphasized the importance of exchanges between alumni and the alumni network through recent seminars at the National Assembly and raised the need to preserve the program.
Minister Lee stated, "I agree that the Youth Startup Academy, with its strong alumni network for entrepreneurs, has value that cannot be measured in monetary terms." She added, "The Ministry of SMEs and Startups has accepted the various concerns raised so far and decided to find a way to maintain the Youth Startup Academy rather than abolish it."
However, she explained, "Since it must be based on a budget program, the Ministry of SMEs and Startups cannot make the decision unilaterally," adding, "The details must be reflected during the National Assembly's budget review process, and consultation with the Ministry of Planning and Budget is also necessary."
She added, "We will find a way to ensure that the 16th class of the Youth Startup Academy is not the last, so please wait a little longer."
Meanwhile, on the 27th of last month, the day before her inauguration, Minister Lee stated on her Facebook and Instagram accounts, "Please leave comments about inconveniences experienced in the field, frustrations with government support, and policies that were good or disappointing," adding, "I will read all the opinions, organize them by topic, and look for areas that can be connected to policy."
[email protected] Lee Ju-mi Reporter