Gyeongnam Province Opens 2021 'Maeul Enterprise' Recruitment... Support Up to 50 Million KRW

Applications for Village Enterprise Hope Groups and Corporations Open Until November 3

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gyeongnam Province is recruiting applicants who wish to be designated for the ‘2021 Village Enterprise Development Project’ from the 21st of this month until July 3rd.

A ‘Village Enterprise’ is a village-level business that solves local problems and creates income and jobs through profit-making activities utilizing various regional resources. It has been designated and operated by the Ministry of the Interior and Safety since 2010.

Once designated as a village enterprise, applicants will receive project funds of ▲10 million KRW for preliminary stage, ▲50 million KRW for new (1st year), ▲30 million KRW for re-designation (2nd year), and ▲20 million KRW for advancement (3rd year). In addition, they can participate in management consultations with Gyeongnam Province’s village enterprise support organizations and various promotional events hosted by the Ministry of the Interior and Safety and Gyeongnam Province.

The province plans to focus on fostering ‘Youth Village Enterprises,’ which encourage participation from young and talented human resources to increase productivity and create jobs, and ‘Urban Regeneration-type Village Enterprises,’ which utilize spaces and facilities created through urban regeneration and fishing village renewal projects.

In particular, Youth Village Enterprises have a lower self-contribution ratio compared to other types of village enterprises, raising expectations for many young people to enter village enterprises.

Organizations or corporations wishing to be designated as village enterprises can refer to the provincial and city/county official websites and apply to the relevant city/county department in charge of their address jurisdiction.

The selection results will be announced around January to February next year after ▲on-site investigations by city/county officials and village enterprise support organizations, ▲review by the Gyeongnam Province Village Enterprise Review Committee, and ▲final review by the Ministry of the Interior and Safety.

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