Jungjingong Receives Award for Excellent Cases of Proactive Administration in Public Institutions

Jungjinkong Next Unicorn Project... Support for Youth Startup Companies Relocating to Abandoned Mining Areas
9 Selected out of 400 Cases in Public Institutions... Jungjinkong is the Only Semi-Government Agency

At the Public Institution Proactive Administration Best Practices Competition held on the 18th, participants, including Prime Minister Chung Sye-kyun (8th from the left in the front row), are taking a group photo.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 18th that its support case for relocating youth startup companies to abandoned mining areas was selected as an excellent case of proactive administration in the public institution category at the '2020 Proactive Administration Best Practices Competition' held at the Government Sejong Complex Building 6 Auditorium.

The Ministry of Personnel Management and the Ministry of the Interior and Safety have been establishing the 2020 proactive administration promotion plan since April and have been discovering and implementing key tasks of proactive administration such as responding to the novel coronavirus disease (COVID-19). In this competition jointly hosted by the two agencies, SBC’s 'Next Unicorn Project,' which selects youth startup companies suited to regional characteristics and supports their relocation to abandoned mining areas while providing follow-up support programs for settlement, was selected as an excellent case.

The Next Unicorn Project is a business that supports the regional relocation of youth startup companies who graduated from SBC’s Youth Startup Academy through collaboration between SBC and Kangwon Land. In this competition, it was evaluated that the project provided new growth engines for the region by injecting youth startup companies into abandoned mining areas suffering from lost growth potential and employment crises. Among 400 tasks submitted in the public institution category this year, 9 were finally selected, and SBC is the only one in the quasi-governmental institution type.

In May, SBC selected 3 companies out of 125 applicants through the Next Unicorn Project contest. Each of the 3 companies receives up to 1 billion KRW in support funds, benefits from policy funds, and follow-up linked support such as investment and financing. The selection process for the second-year project participants is currently underway, and 3 final companies will be selected next month. SBC is consulting with the National Balanced Development Committee and the Ministry of SMEs and Startups to expand the Next Unicorn Project as a nationwide model.

SBC plans to create quality jobs in the region and generate new value chains through the Next Unicorn Project, revitalizing the regional economy struggling with the crisis of main industries. Chairman Kim Hak-do said, "The Next Unicorn Project is a model case of proactive administration where SBC, local governments, and regional innovation institutions collaborated to revitalize the regional economy," and added, "We will actively support promising youth startup companies who graduated from the Youth Startup Academy to invigorate the regional economy and grow into global unicorn companies leading the world market."

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