Sancheong-gun Strengthens and Fosters Social Enterprises' Self-Reliance... Secures 30 Million Won in Project Funds

Gyeongnam Province Social Enterprise Project Development Fund Contest Selection
Beneficiary Companies Achieve Up to 73% Increase in Sales, Demonstrating Tangible Impact

Sinpung Agricultural Cooperative Sprouts
[Image source=Sancheong-gun]

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Sancheong-gun, Gyeongnam Province announced on the 12th that three local (preliminary) social enterprises were selected in the 1st Social Enterprise Business Development Fund contest of 2021 conducted by Gyeongnam Province, securing 30 million KRW in project funds.

According to the county, the three companies selected in this contest are ‘Shinpung Yeongnong Cooperative’, ‘Nongbuae’, and the agricultural corporation ‘Maruwon Co., Ltd.’

The social economy enterprise business development fund contest is a financial support project aimed at fostering, discovering, and strengthening the self-reliance foundation of (preliminary) social enterprises. It supports various fields such as prototype development, promotional design, website production, brand logo development, and trademark application.

Shinpung Yeongnong Cooperative applied to develop a ‘Sprout Oat Powder Stick Processed Product’ to overcome the limitation of the short shelf life of primary products such as sprout-related products.

They also plan to actively utilize the ‘Sprout Cultivation Cart’ not only for experiential activities but also as educational materials for students.

The agricultural corporation Maruwon Co., Ltd. is a social enterprise that produces and distributes persimmon vinegar, persimmon wine, dried persimmons, and persimmon slices.

Through this project, it is expected to contribute to increasing local farmers' income and job creation by producing fermented foods called jocheong (made from wild pear, ginger, balloon flower root, glutinous rice, and radish) during the aging period of persimmon wine.

A county official stated, “Financial support projects such as business development funds are greatly helping the fostering of social enterprises, especially for new businesses. We plan to continue providing support to revitalize social enterprises,” and urged, “Social enterprises should also make greater efforts to create jobs for vulnerable groups.”

Meanwhile, there are six social enterprises located in the county, currently providing jobs to about 50 vulnerable people annually, including the elderly, disabled, and youth.