Seoul: Finance Minister Koo Yun-cheol announced on Wednesday that the current year will herald the beginning of a startup era, with a commitment to establish an environment conducive to business creation for all.

According to Yonhap News Agency, Koo made these comments during a strategy meeting involving government and private-sector representatives focused on methods to bolster startup initiatives. He declared, "2026 will be the first year of a startup nation," emphasizing the government's ambition to create a supportive environment for anyone with an innovative idea to embark on entrepreneurial ventures.

Highlighting ongoing uncertainties due to the Middle Eastern conflict, Koo stressed that decisive measures are imperative, even amidst crises, and encouraged adopting a mindset of embracing bold challenges. He stated, "To move beyond crisis and achieve a new leap forward, the Republic of Korea must boldly bring creative ideas into the world through entrepreneurship and innovation," referring to South Korea by its formal name.