Jungjinkong Opens Sejong Youth Startup Academy

131 Applicants for 30 New Students... Recording a 4.4 to 1 Competition Ratio

Panoramic View of the Small and Medium Business Corporation

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 21st that it has established the Sejong Youth Startup Academy (hereinafter Sejong YSA) in Dajeong-dong, Sejong Special Self-Governing City (hereinafter Sejong City) and held an opening ceremony. With the opening of Sejong YSA, a foundation for nurturing youth startups and fostering regional key industries has been established across all 17 metropolitan local governments nationwide.

Last year, SBC received a request from Sejong City to move into Sejong YSA as part of the 'Clean Sejong Project' aimed at utilizing youth culture and startup spaces. After reviewing the project and consultations, it was decided to locate Sejong YSA in the Gaon Village 7 Complex commercial area, and the opening was carried out. In the recruitment for Sejong YSA entrants held in January, 131 applicants applied for 30 spots, recording a competition rate of 4.4 to 1. Companies engaged in regional key industries were given preference, with more than 60% of selected companies being from smart city and smart green convergence parts and materials sectors.

Currently, the selection of entrants has been completed, and startup education and coaching are underway. Entrants receive up to 100 million KRW in business expenses, office space, prototype production infrastructure, market development, and other startup support services in a one-stop package for one year. The Sejong YSA space is built with an open design, enabling mutual collaboration and networking among entrepreneurs. In particular, the open exhibition hall will be open at all times to the youth of Sejong City to revitalize the local startup ecosystem.

SBC also plans to operate a Sejong branch office for policy fund consultation, application, and field surveys to strengthen close support for small and medium ventures located in the Sejong area. This is expected to improve policy accessibility and convenience for local companies. Chairman Kim Hak-do said, "Sejong YSA is significant as the first case of moving into a youth startup and cultural sharing space planned by a metropolitan local government," adding, "Based on cooperation with Sejong City, we will continue to expand collaboration with Sejong Technopark, Sejong Creative Economy Innovation Center, local universities, and others to become a catalyst leading regional development such as youth entrepreneurship and job creation."