[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 18th that it will hold the 'National Idea Contest for the Development and Utilization of State-Owned Assets' until November 5.
This contest, hosted by KAMCO, was prepared to discover innovative public ideas for the development and utilization of state-owned assets and to find cooperative projects in connection with local governments.
The contest theme is the development and utilization plans for state-owned assets aimed at improving the quality of life for the public, supporting vulnerable groups, and creating jobs. It is divided into two categories: general public and local government officials.
The general public category targets 30 state-owned assets with low utilization compared to their location conditions, while the local government officials category is divided into plans for single or shared property convergence development and utilization of state-owned assets located in local governments.
Anyone in the public (individuals or teams of up to three members) can participate in the contest. KAMCO plans to select a total of 16 outstanding works based on suitability, feasibility, effectiveness, and innovativeness, and announce the results in December.
For the selected outstanding works, a total prize of 29 million KRW and the KAMCO President's Award will be given to 10 teams (21 million KRW) in the general public category, including 1 grand prize team (5 million KRW) and 2 excellence award teams (3 million KRW each), and 6 teams (8 million KRW) in the local government category, including 1 grand prize team (3 million KRW) and 1 excellence award team (2 million KRW).
Moon Sung-yoo, President of KAMCO, said, "Since state-owned assets belong to all citizens, it is necessary to reflect broad and diverse opinions and ideas," and added, "We hope for the public's active interest and participation to enhance the utilization and value of state-owned assets."
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