President Yoon Suk Yeol promised to support the growth of innovative startups during a meeting with a group of entrepreneurs who won awards at last month's Consumer Electronics Show.

At a luncheon held at the presidential office on Thursday morning, Yoon emphasized that the country's competitiveness as well as its survival depends on innovation based on science and technology.

Yoon added that the government will provide the support necessary for a large number of innovative startups to become world-class “unicorns” valued at over one billion U.S. dollars through a combination of talent, global reach and international investment opportunities.

The 44 entrepreneurs invited from the science, technology and digital fields won Innovation Awards at this year's CES in Las Vegas, with five among them winning Best of Innovation awards.

The event was one of many the president has made an appearance at as he seeks to stimulate growth in the country’s science and technology sectors.