Ministry of Environment Launches Full-Scale Support for Social Economy Enterprises in the Environmental Sector... Call for Participating Companies

[Sejong=Asia Economy Reporter Joo Sang-don] The Ministry of Environment announced on the 23rd that it will recruit participating companies for the '2021 Environmental Sector Social Economy Enterprise Support Project' from the 24th to April 19th to actively support the growth of social economy enterprises in the environmental sector.

This support project expands the target from preliminary social enterprises to all social economy enterprises according to the 'Activation Plan for Social Economy in the Environmental Sector' announced in May last year, and supports growth throughout the entire process including startup, growth, and market development, beyond simple consulting.

About 25 companies will be selected next month. For social enterprises, 10 companies will be supported up to 100 million KRW per company (30% self-payment), for preliminary social enterprises, 10 companies will be supported up to 50 million KRW (10% self-payment), and 5 preliminary startups will be selected with support up to 10 million KRW.

The support period is basically one year, but companies that choose two years of support at the initial application can receive support for up to two years. Companies supported for two years must receive a 'success' rating in the first-year final evaluation to receive second-year support.

If selected as a support target, companies can freely choose and receive customized support through ▲ development and operation of business types (models) ▲ education necessary for independent management ▲ one-on-one education (mentoring) ▲ professional consultation (market entry, branding, and promotion improvement, etc.) ▲ prototype production and improvement ▲ pre-diagnosis such as certification and verification according to support targets.

Companies participating in the public offering will be selected through preliminary review of restrictions and presentation evaluation. Detailed information such as submission forms for this support project can be found on the Korea Environmental Industry & Technology Institute website.

Kim Dong-gu, Director of Green Transition Policy at the Ministry of Environment, said, "Through various supports in the future, we will expand the entry of social economy enterprises in the environmental sector into the changed market such as promising new industries, environmental problem solving, and environmental services, and continuously strengthen step-by-step nurturing. We hope for the interest and participation of many social economy enterprises with high growth potential such as preliminary and certified social enterprises, cooperatives, village enterprises, self-support enterprises, and preliminary startups with good ideas."