A joint consultative group involving the government and private companies has been launched to foster local start-ups in the field of information and communication technologies and create a related ecosystem.

The public-private body includes the Ministry of Science and ICT and leading ICT firms such as Samsung Electronics, Posco, LG CNS, and the country's top three mobile operators. Start-up investors, including the Korea Technology Finance Corporation, Korea Credit Guarantee Fund, Lotte Accelerator and Kakao Ventures, are also taking part.

Under the plan, they will work together to provide active and systematic assistance for start-ups from the early stages, taking cues from global ICT giants like Google. 

They will also be able to invest in these companies or even buy them. 

The government is seeking to differentiate the new joint platform from those in the past by allowing participating firms to take a leading role while it focuses on providing backup through measures such as deregulation.