Seocho-gu Supports Social Economy Cultural Arts Youth Entrepreneurs with Up to 10 Million KRW Funding

Recruiting 23 Seocho Youth Teams for Social Economy Startups in Culture and Arts... Up to 10 Million KRW for Initial Business Expenses or Up to 4.5 Million KRW for Rent Support

[Asia Economy Reporter Park Jong-il] Seocho-gu is recruiting local youth (aged 19-39) who wish to start social economy enterprises in the cultural and artistic fields for the '2021 Social Economy Cultural Arts Youth Startup Support Project' until February 15.

The project being recruited aims to support innovative business ideas and startup activities of young people who will solve and develop local cultural and artistic issues by utilizing Seocho-gu's abundant cultural and artistic resources and infrastructure.

Support includes up to 10 million KRW for initial startup business expenses and up to 4.5 million KRW (limit of 500,000 KRW per month) for rent to stabilize the business.

In addition, various startup supports such as capacity-building education, workshops, regular networking meetings, and one-on-one assignment of professional consultants will be provided.

The recruitment scale is a total of 23 teams.

Applicants can check the application requirements and support details for each project, ▲business expense support ▲rent support, and select the appropriate project to apply.

Selected youth entrepreneurs will proceed with the project until December this year after signing an agreement with the district office, with the ultimate plan to advance into social economy enterprises.

Detailed information can be found in the announcement on the Seocho-gu Office website, and other inquiries can be directed to the Job Economy Division for guidance.

Meanwhile, the Cultural Arts Youth Startup Support Project began in 2018 and supported a total of 42 teams (about 180 people) over three years, showing very high participation satisfaction.

The 22 teams that participated in last year's project achieved remarkable business results and growth in areas such as business scale and sales growth, external institution awards, establishment and entry into social enterprises, and creation of new jobs.

Jo Byung-geon, head of the Job Economy Division, stated, “We will actively support young cultural and artistic entrepreneurs who are struggling due to COVID-19 to establish a safe startup foundation,” adding, “Furthermore, we expect the development of Seocho-gu’s culture and arts and the expansion of cultural enjoyment opportunities for residents.”