Busan City and Korea Student Aid Foundation Join Forces to Boost Startup Activation

Signing of Business Agreement to Promote University Student Startups on the 18th

[Asia Economy Yeongnam Reporting Headquarters, Reporter Yoon Yoseop] Busan City and the Korea Student Aid Foundation are joining forces to promote entrepreneurship.

Busan City announced on the 17th that it will sign a "Busan City-Korea Student Aid Foundation Agreement for Fostering University Student Entrepreneurial Talent" at 2 p.m. on the 18th at the Korea Student Aid Foundation Busan Center in Yeonsan-dong.

Last September, the Korea Student Aid Foundation, together with the Korea Student Aid Foundation Busan Center, established an "entrepreneurship-support dormitory." Floors 3 to 5 of the dormitory are equipped with "entrepreneurship spaces" such as seminar rooms, mentoring rooms, and shared office spaces, while floors 6 to 10 provide "residential spaces" with double rooms. It is designed so that students preparing for various types of startups, including technology startups and social venture startups aimed at solving social problems, can focus solely on entrepreneurship.

The dormitory, funded by a donation from Samsung, allows university students who have difficulty securing entrepreneurship spaces and residential spaces to use the dormitory free of charge for up to two years without paying separate housing fees or office usage fees.

Busan City plans to integrate various entrepreneurship support projects to boost university students' entrepreneurial spirit. When the Korea Student Aid Foundation discovers university student prospective entrepreneurs interested in startups, Busan City will provide customized entrepreneurship support for university students by linking professional entrepreneurship support programs and infrastructure, including ▲mentoring connections ▲support for maker entrepreneurship clubs ▲hosting entrepreneurship idea competitions ▲technology startup support.

Oh Keo-don, Mayor of Busan, said, "This dormitory will be a beacon of hope for university students dreaming of entrepreneurship," adding, "Busan City will connect entrepreneurship support programs to turn those dreams, transformed into hope, into reality. We expect world-class university startup companies to be born here."

Space composition of the Korea Student Aid Foundation Startup Dormitory.
Photo by Busan City Hall

This content was produced with the assistance of AI translation services.