Jeonnam Hampyeong County announced on May 11 that it will provide up to 100 million won in startup funding to support the inflow of young people and revitalize the local economy.
As part of the Youth Street Campus Project, the county is recruiting an additional five young entrepreneurs who wish to start a business in the region until May 23. Applications can be submitted in person at the Nabi Eoulrim Center or via email by May 23.
The Hampyeong Youth Street Campus Project is an initiative that converts vacant stores and other unused facilities into startup spaces to encourage young people to settle in the area and to stimulate the local economy.
Since last year, the county has invested a total of 1.95 billion won to provide startup grants and remodeling costs to young entrepreneurs. Eligible applicants are young people aged 49 or younger who wish to start a new business in the Hampyeong area. Any existing entrepreneur with annual sales of at least 120 million won, regardless of region or industry, may apply. However, those operating franchise businesses or those who are closing or remodeling their current business premises are excluded.
The county will conduct a first-stage document screening and a second-stage presentation evaluation, after which the final five successful candidates will receive a startup grant of 7 million won and up to 100 million won in remodeling (interior) costs necessary for starting their business.
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