Gokseong-gun Supports Youth Startups with Up to 20 Million KRW Funding

Internal Remodeling or Equipment Purchase Costs Must Be Applied for by February 4th

[Gokseong=Asia Economy Honam Reporting Headquarters, Reporter Cha Jongseon] Gokseong-gun, Jeollanam-do announced that it is recruiting candidates for the 2022 Youth Startup Support Project until February 4.

The Youth Startup Support Project provides funds necessary for startups, such as interior remodeling of business premises and equipment purchase, to local young entrepreneurs.

Eligible applicants are prospective entrepreneurs aged 15 to 49 residing in Gokseong-gun.

A total of three candidates will be recruited, and selected applicants can receive support up to 20 million KRW within 70% of the total project cost. However, equipment and machinery purchase costs are supported up to 50% of the project cost.

Funds for land purchase, rent, deposit, labor costs, etc. are not supported.

Costs eligible for post-refund such as VAT are also excluded, and recipients must maintain the business for at least three years after receiving the support.

Applicants who are enrolled in employment insurance as of the application date, have business registration under their name, or are currently enrolled in university or graduate school are not eligible for support.

Additionally, those who have overdue national taxes, local taxes, or non-tax revenues, are under financial restrictions due to bad credit transactions with financial institutions, or have recently received similar support are also ineligible to apply.

A Gokseong-gun official stated, “After the first document screening and the second presentation evaluation, the final support recipients and support amounts will be decided in February. If the average total score of the evaluation is below 70 points, no candidates may be selected regardless of the planned number of recruits.”

Gokseong=Asia Economy Honam Reporting Headquarters, Reporter Cha Jongseon cha6960@asiae.co.kr