KAMCO, Achievements in Supporting Youth and Venture Startups

Through Seoul Social Venture Hub, Achieved Cumulative Sales of 31.3 Billion KRW, Employment of 409, and Private Investment Attraction of 26 Billion KRW Over 3 Years -

[Asia Economy Reporter Eunju Lee] On November 9, Korea Asset Management Corporation (KAMCO) announced that through the 'Seoul Social Venture Hub,' it has achieved cumulative sales of 31.3 billion KRW, 409 new jobs, and 26 billion KRW in investment attraction over the past three years.

The 'Seoul Social Venture Hub' is the nation's first social venture company support base established jointly by KAMCO and the Seoul Metropolitan Government to support youth and venture startups. The Seoul Social Venture Hub is located at the 'Narakium Youth Startup Hub (Gangnam-gu, Seoul)' and currently houses a total of 15 companies in fields such as Able Tech*, environment, and education.

With support from KAMCO and others, the sales of resident companies have increased by 96%, from 6.9 billion KRW in 2020 to 13.5 billion KRW in 2022 since its opening, achieving cumulative sales of 31.3 billion KRW. New employment has also been actively created, growing steadily with 83 employees in 2020, 135 in 2021, and 191 in 2022, resulting in a total of 409 jobs created.

In particular, Paperpop Co., Ltd., which makes various everyday furniture from paper, had only 2 employees and annual sales of 300 million KRW at the time of moving in. However, through various supports after moving in, by 2022, three years later, it grew to 22 employees and annual sales of 2 billion KRW, becoming a representative successful company in the 'Seoul Social Venture Hub.'

Kwon Nam-ju, President of KAMCO, said, “KAMCO's support for youth and venture startups is showing results in terms of private company revitalization such as sales, employment, and investment attraction,” and added, “KAMCO will continue to collaborate with local governments and related organizations to provide practical help in fostering innovative startups among youth and revitalizing venture companies.”