Ministry of SMEs and Startups' 'Hope Return Package' Supports Small Business Owners' Retry Efforts

2023 Hope Return Package Performance Sharing Meeting Held

The Ministry of SMEs and Startups announced on the 28th that it held a Hope Return Package performance sharing meeting at Dream Square in Mapo-gu, Seoul. The Hope Return Package support project is a recovery support program that provides a package of management improvement, closure support, reemployment, and re-entrepreneurship for small business owners who are struggling with management or have closed their businesses.

This performance sharing meeting was an opportunity to review the annual achievements of the Hope Return Package project, with participation from small business owners, educational institutions, and consultants involved in the project. Discussions were held on the project’s achievements and improvement plans, and awards were given for outstanding cases of small business owners’ re-challenge. At the meeting, attendees requested the government to expand support for the rapid recovery of small business owners, including strengthening customized education for small business owners, promoting participation, and expanding closure support.

Among the 414 teams that participated in the contest, three companies including 'Gain Graphics' received the Minister of SMEs and Startups Award after evaluation by a panel of external experts. Gain Graphics expanded its business through AI graphic work and special filming using drones. Another award-winning company, Gamseong Refrigerator, received professional training on product price comparison and marketing methods and re-established an unmanned ice cream store. Korea Rainbow Sunyoung shifted its business from traditional crafts production to 3D printing services.

Lee Cheong-il, Director of the Small Business Re-challenge Division at the Ministry of SMEs and Startups, said, "Although difficult management conditions continue, based on cases of overcoming failure and succeeding in recovery, we plan to further expand support in 2024 to help overcome crises and support the recovery of small business owners who have closed their businesses."