Jeonnam Province to Create a Business-Friendly Environment for Young Entrepreneurs

Implementation of Youth Enterprise Certification System
For Companies Led by Representatives Aged 18 to 45
Benefits Include Preferential Interest Support

Jeonnam Province operates a youth enterprise certification system to support young people in running businesses. Provided by Jeonnam Province

Jeollanam-do will officially implement the Jeollanam-do Youth Enterprise Certification System in 2025, aiming to overcome the crisis of local extinction and create an environment where young people can successfully run businesses.

The Youth Enterprise Certification System is intended to actively support local youth enterprises, prevent the outflow of young people, and invigorate the regional economy.

To be certified as a youth enterprise, the company must be located in Jeollanam-do and meet the criteria of an SME under the Framework Act on Small and Medium Enterprises. Enterprises with representatives aged 18 to 45 (born between 2007 and 1979), with no national or local tax arrears, and currently in normal operation, are eligible for certification.

The certification period is three years from the date of certification. Upon expiration, companies may apply for recertification. Even if the representative's age exceeds 45 during the certification period, the certification remains valid.

Certified youth enterprises are eligible for a variety of benefits, including increased loan limits for SME facility and operating funds (up to 2 billion KRW for facility funds and 500 million KRW for operating funds), preferential interest support (up to 2.9%), support for participation in domestic and international exhibitions, assistance with entry into home shopping and online open markets, additional points when applying for Jeollanam-do smart factory support projects and Jeollanam-do small but strong enterprise development projects, and priority participation in events hosted by Jeollanam-do.

Kim Hyungseong, Director of the Jeollanam-do Small and Medium Venture Business Division, said, "The growth of youth enterprises is an important asset that will shape the future of Jeollanam-do."

Meanwhile, companies seeking youth certification should refer to the notice titled '2025 Jeollanam-do Youth Enterprise Certification Plan' in the announcements section of the Jeollanam-do website, complete the application form, and submit it via email, mail, or in person.