KISTEP hosted the 7th KISTEP Wednesday Forum with a theme of 'Success Condition and Change Management of Creative Economy' in the international conference room of KISTEP on June 18. In this forum, in order to resolve some uncertainties about the big change in so-called the creative economy and to settle down successfully, the necessary preconditions were examined, and their practical measures were discussed.

The forum proceeded by the order of the opening address by Youngah Park, a president of KISTEP, the theme presentation by Youngha Koh, a chairperson of Korea Business Angels Association, and the panel debate.

A chairperson Youngah Koh emphasized the necessity of innovation through the theme presentation about "Korea, Creative Economy and Venture Nation", claiming that in Korea and Japan, old companies are leading the economy, compared to the fact that those leading companies in economy of US and China are new, which have been established within 15 to 30 years. He added, "In order for a society to grow continuously, the growth engine is needed on the basis of creativity and imaginative power, and this can accelerate through the open innovation."

A chairperson Koh criticized Korea's society which forced youths to take few uniform success equations as one way to the open innovations, reasoning that the society should encourage the venture businesses by young people rather than the employment of young people. In order to improve this, he explained the necessity of ▲ education system based on the spirit of entrepreneur, ▲ society which accepts a failure, ▲ welfare system society safe net which supports people who have failed in venture business, ▲ the flexibility of the labor market.