Gwangju Buk-gu Provides Rent-Free Youth Startup Support Spaces

[Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] Buk-gu, Gwangju Metropolitan City (District Mayor Moon In) announced on the 13th that, together with the LH Gwangju-Jeonnam Regional Headquarters, it has established a startup support space within Gakhwa Jugong Apartment and will support youth startup companies by providing rent-free occupancy.

This project aims to utilize idle spaces within the apartment to support the stable settlement and growth of startup companies.

Accordingly, Buk-gu recruited and selected six companies that are either led by a youth under the age of 39 or are social economy enterprises that have been established within three years or are prospective startups.

The LH Gwangju-Jeonnam Regional Headquarters remodeled related facilities such as the air conditioning system and shared restrooms so that companies can move in immediately.

Buk-gu will sign lease contracts on the 23rd and rent the startup spaces to the selected companies rent-free for two years.

The companies are expected to complete their move-in by November and start business activities such as app development suited for the COVID-19 era, online education, and idea product manufacturing.

District Mayor Moon In of Buk-gu said, “I hope this project, carried out together with LH, will help startup companies that face high initial costs,” and added, “We will continue to prepare practical support measures for youth companies, self-employed individuals, and small business owners who are struggling due to the economic downturn.”

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