K-Content Law

Table of Contents

• CHAPTER I GENERAL PROVISIONS
• CHAPTER II ESTABLISHMENT OF FOUNDATION FOR PROMOTION OF VENTURE BUSINESSES
• CHAPTER III Deleted
• CHAPTER IV SUPPLEMENTARY PROVISIONS
• CHAPTER V PENALTY PROVISIONS

Summary

The Special Act on the Promotion of Venture Businesses in Korea aims to enhance industrial competitiveness and facilitate structural adjustment by promoting the creation and growth of venture businesses. The Act defines key terms including "venture business," "investment," and "facilities for clustering venture businesses." It sets criteria for qualifying as a venture business, including being a small or medium enterprise and meeting investment or research and development standards. The Act also designates special zones and facilities to support venture businesses and encourages strategic alliances for improved productivity and competitiveness. Certain business types, like general entertainment bars, are excluded from being categorized as venture businesses to focus resources on more impactful industries. The Act is enforced with oversight from designated institutions and is regularly updated to reflect current industry needs.