Business Model Contest Utilizing Local Resources for Youth Merchants Aged 3 or More Until May 14, Up to 10 Million KRW Support... Promoting Local Content Development by Discovering and Supporting Creative Business Ideas of Youth Merchants
Seongdong-gu, Seoul (Mayor Jung Won-oh) is recruiting participants for a public contest to nurture ‘Local Creators’ targeting young merchants until May 14.
‘Local Creators’ refers to entities (Creators) that combine innovative ideas with local resources and cultural characteristics to create business value.
With low birth rates, the risk of regional extinction, and an economic recession, the lives of small business owners, who form the foundation of the local economy, are becoming increasingly difficult. Additionally, as awareness grows that reducing carbon emissions requires solving needs locally, ‘Local Creators’ are emerging as a new model for regional economic growth.
Accordingly, Seongdong-gu is working to revitalize local content development by discovering and supporting creative business ideas from young merchants.
Applicants must be young merchants (aged 19 to 39) operating businesses within Seongdong-gu, organized as groups of at least three people. The support fund has been increased from 6 million KRW per team last year to 10 million KRW this year.
The recruitment fields include seven categories: ▲Local Value ▲Local Food ▲Local-based Manufacturing ▲Regional Specialized Tourism ▲Hub Brand ▲Digital Cultural Experience ▲Eco-friendly Activities.
As a result of last year’s contest, local brands with stories rooted in the region were developed, such as ‘Oksu Punch,’ a local Makgeolli cocktail, ‘Seongsu,’ a local traditional liquor, and ‘Yongdap Maehwa Village Plum Wine,’ made using plums from Hadong, Seongdong-gu’s sister city in Yongdap-dong.
Additionally, a YouTube channel introducing popular restaurants in Seongdong-gu was launched to help revitalize the local economy, and a Seongsu-dong tourism course was developed to enable people with disabilities to travel inclusively.
This year, the focus will be on discovering Localtact projects to encourage active resident participation within the region and Glocal projects aimed at the increasing number of foreign tourists. Furthermore, projects that can be linked and promoted with the local community, such as traditional markets and shopping districts, will be intensively explored to ensure sustainable progress.
Applications for the contest can be submitted by visiting the 13th floor Regional Economy Division of Seongdong-gu Office with the required documents or by sending them via email to the person in charge, referring to the announcement section on the Seongdong-gu Office website by May 14.
Jung Won-oh, Mayor of Seongdong-gu, stated, “Although small business owners are facing great difficulties due to the economic downturn, I hope the ‘Local Creator Contest’ will help overcome this crisis.” He added, “I look forward to discovering various sustainable projects based on the brilliant ideas of young merchants.”
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