Chungnam Province Provides 500 Million Won to 24 Social Enterprises

24 Companies Selected from 13 Cities and Counties

Chungnam Provincial Government Building. / Provided by Chungnam Province

On May 15, Chungnam Province announced that it will provide a total of 500 million won in business development funds to social economy enterprises within the province.

The province selected 24 companies located in 13 cities and counties through the "2025 Chungnam Province (Preliminary) Social Enterprise Business Development Fund Support Project Participant Recruitment," which has been underway since March.

The business development fund support project helps (preliminary) social enterprises build a foundation for sustainable growth based on stable revenue generation. Last year, the province provided 381 million won to 26 companies.

With this support, the selected companies are expected to generate additional revenue in areas such as prototype production, product development, brand development, promotion and marketing, and website creation.

An official from the province stated, "Despite the contraction of the social economy due to reduced government support, such as cuts in national subsidies since last year, the province is discovering additional revenue models for various social enterprises by providing business development funds from its own budget. We will continue to support the revitalization of the social economy in the province going forward."