Chungnam Province Recruiting Companies for Social Economy Innovation Town

Until January 17 Next Year... 34 Resident Companies and 100 Registered Companies

Social Economy Innovation Town Perspective / Chungnam Province

Chungnam Province announced on the 10th that it is recruiting tenant companies for the Social Economy Innovation Town to be established in Cheongyang-gun.

The Innovation Town is scheduled to be completed in December and is expected to open in the first half of next year, with one basement floor and four floors above ground.

The facility will include rental offices, a prototype production room, exhibition and sales spaces, a video production room, classrooms, and meeting rooms.

The application period is open until January 17 of next year, and the scale includes 34 resident companies and 100 registered companies.

Resident companies will occupy dedicated spaces within the Innovation Town, while registered companies will use shared open spaces within the facility.

The province plans to give priority to companies that set local issues as their business value goals.

The first priority will be social economy organizations based in the province; the second priority will be prospective entrepreneurs and social network venture companies (prospective entrepreneurs) based in the province who plan to transition to social economy organizations within one year; the third priority will be social economy organizations based in other regions and prospective entrepreneurs and social network venture companies (prospective entrepreneurs) who plan to transition to social economy organizations within one year; and the fourth priority will be startups with less than seven years of business history that employ at least one paid worker from a vulnerable group and have fewer than five employees.

The province will provide benefits such as additional points for social economy-related financial support competitions and increased interest support rates for social economy fund loans to tenant companies.

Cheongyang-gun will support housing subsidies for company employees residing in the county (up to 191,000 KRW per month for rent, up to 1 million KRW per year for interest on leasehold loans), as well as discounts on the use of equipment at the agricultural product processing center.

In addition, the Chungnam Economic Promotion Agency will provide consulting for connecting with government support projects and support for joining the province's official online shopping mall 'Nongsarang', while the Chungnam Social Economy Support Center will offer management consulting and specialized training.

Furthermore, companies can also benefit from using 3D printers and product design improvement support provided by Hoseo University Industry-Academic Cooperation Foundation.

Interested companies can inquire through the province's website or the Economic Policy Division at the provincial government office.

A provincial official stated, "We will do our utmost to support many companies so they can participate in the Chungnam Social Economy Innovation Town and achieve mutual growth and development."