Minister Hansung Sook: "We Will Create an Environment for Growth from Local Startups to Global Companies"

5th Small Business Growth Relay Meeting

The Ministry of SMEs and Startups has shared real growth stories of young local entrepreneurs and highlighted the potential of local startups.

On December 22, the Ministry of SMEs and Startups announced that it held the "5th Small Business Growth Relay Meeting" under the theme "Youth Local Startups are the Future of Regions" at Dream Square in Mapo-gu, Seoul. This meeting followed the "Small Business Recovery and Stability Meeting Season 1," which was held from July to October, and was the fifth event in the ongoing "Small Business Growth Relay Meeting Season 2" that began in November. More than 20 participants, including eight young local entrepreneurs and academic experts, attended to share the idea that young local entrepreneurs who create new opportunities in their regions can become key drivers for revitalizing local economies.

Hansung Sook, Minister of SMEs and Startups, is delivering a greeting at the '5th Small Business Growth Relay Meeting' held on the 22nd at Dream Square in Mapo-gu, Seoul. Ministry of SMEs and Startups

Before the meeting, Minister Hansung Sook of the Ministry of SMEs and Startups visited Dream Square, a space for small business education and childcare, to observe the products and spaces of young small business owners and listen to their feedback. In the keynote presentation that followed, Professor Kim Siyeol of Jeonju University delivered a talk titled "A New Perspective and Importance of Local Startups," emphasizing that youth-led local startups can lead to job creation and a sustainable regional economy. He particularly suggested that regional universities could serve as core platforms for nurturing young local entrepreneurs.

In the subsequent case presentations, young local entrepreneurs from regions such as Wonju and Cheongju shared their experiences of building brands based on local resources and their own stories. During the open discussion, participants shared the difficulties and trial-and-error they encountered in the local startup process, as well as how they overcame these challenges. In addition, a variety of policy suggestions and field opinions were discussed to support the sustainable growth of youth-led local startups, including local branding utilizing regional resources and identity, product and service innovation, and strategies for global expansion.

Minister Hansung Sook stated, "Many young people are creating new opportunities by taking on the challenge of starting businesses in their regions to pursue what they want to do," and added, "Starting in 2026, the Ministry of SMEs and Startups will launch the 'Project to Discover 10,000 Youth Local Entrepreneurs,' creating an environment where young people can start in their regions without fear of failure and grow into global companies."