Finance Minister Kim Dong-yeon has pledged the creation of an entrepreneurship ecosystem that will help bring another booming era for South Korean startups following the previous one in the early 2000s.

Kim met with startup company representatives Tuesday to promote the Moon administration’s innovative growth initiative.

Kim said startup efforts in the private sector deserve support from the whole society, including the government. 

The government plans to announce a set of measures to help foster innovative startups later this month.