Gwangju Seo-gu - Bio Seed Cooperative, Village Enterprise Support Agreement
Support for Developing 5·18 Symbolic Jumeokbap
[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Seo-gu, Gwangju Metropolitan City (Mayor Seo Daeseok) announced on the 17th that it recently signed a 2020 new village enterprise support agreement with ‘Bio Seed Cooperative (CEO Shin Sunrye).’
A village enterprise is a social economy enterprise where local residents solve regional community problems and create income and jobs through profit-making businesses utilizing various local resources.
Every year, the Ministry of the Interior and Safety selects them through recommendations from cities and provinces by evaluating business viability, community nature, public interest, and regional characteristics.
The newly selected ‘Bio Seed Cooperative’ will receive 50 million KRW in project funds for facilities, equipment, and marketing to operate the village enterprise.
Additionally, depending on future business performance, it can receive up to 100 million KRW through public contests, establishing a foundation for independent growth.
Bio Seed Cooperative plans to commercialize fist bread and gourd-shaped drinks symbolizing the May 18 Democratic Uprising, based on members’ baking expertise and health-related patents, to revitalize the depressed Gyesu Village commercial district and create jobs.
A portion of the profits will be donated to food banks, and baking-related education will be provided, along with other community contribution activities.
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A Seo-gu official said, “If products and stories that embody the spirit and significance of Gwangju’s symbol, the May 18 Democratic Uprising, are combined, it is expected to not only revitalize the local commercial district but also have a significant job creation effect,” adding, “We will spare no support so that village enterprises contributing to the recovery of local communities and the creation of public value can grow.”
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