Changwon City Opens Applications for '2020 Youth Startup Allowance'

Up to 2.7 million KRW with 300,000 KRW per month

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Sharon] Changwon City, Gyeongnam Province (Mayor Heo Seong-mu) announced on the 24th that it is recruiting applicants for the Youth Startup Allowance to resolve the economic difficulties of young entrepreneurs and increase the success rate of startups.

The support target is young people aged 19 to 39 who have been registered residents in Changwon City for more than 6 months, have been operating a business for more than 3 months and less than 3 years after starting up, and have annual sales of less than 100 million KRW.

The Youth Startup Allowance is provided once per lifetime, one person per household, and cannot be received simultaneously with the Youth Job-Seeking Allowance. University students, students on leave, those with overdue national or local taxes, or representatives of companies with 5 or more employees as of the previous month are excluded from support.

When receiving the allowance, up to 2.7 million KRW can be used over 9 months at 300,000 KRW per month for indirect costs related to startup activities such as transportation, meals, education, and product promotion expenses.

For detailed information on the application, check the Changwon City website or contact the Changwon City New Growth Industry Division.

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