Seongbuk-gu 'Dojeonsuk': The Story Behind Embracing University Students and Aspiring Entrepreneurs?

On the 14th, 41 Companies to be Announced as New Residents of Dojeonsuk... Providing Startup Spaces as well as Startup Mentoring, Education and Platform Support for Commercialization... Expansion of Recruitment Targets to Include Prospective Startup University Students in Connection with Local Universities, Expecting Job Creation Effects through Youth Startup Support

Lee Seung-ro, Mayor of Seongbuk-gu

[Asia Economy Reporter Jongil Park] Seongbuk-gu (Mayor Lee Seung-ro) will announce the selection results for the second half of 2020 Dojeonsuk residents on the 14th.

Seongbuk-gu was the first in the nation in 2014 to supply mixed-use rental housing that combines office and accommodation to support one-person creative entrepreneurs in starting their businesses.

This project reduces the financial burden by setting the deposit and rent at an affordable level of 60% of the surrounding market price, lowering the threshold for startups. Starting with the first branch, it has now been supplied up to 13 buildings, and plans to supply a total of 15 buildings and 214 rooms by 2021.

Until the first half of 2020, recruitment was limited to one-person creative entrepreneurs or prospective entrepreneurs, but from the second half of 2020 supply, Seongbuk-gu signed an industry-academia cooperation MOU with six local universities (Korea University, Kookmin University, Dongduk Women's University, Sungshin Women's University, Seokyeong University, Hansung University) and expanded the recruitment target to include university students preparing for startups and social entrepreneurs in connection with university startup support groups.

For this residency, startups from various fields applied, ranging from companies based on advanced 4th industrial revolution technologies such as 3D and virtual reality technology fashion design services, data clouding and AI fashion curation O2O services, to idea-based companies leading trends like premium pet cat snack subscription delivery services, and companies providing customized home training non-face-to-face video personal training services.

Lee Seung-ro, Mayor of Seongbuk-gu, said, “We welcome all companies selected for this residency. At a time when most industries are shrinking due to COVID-19 and youth unemployment rates are continuously rising, we will actively support young people’s innovative ideas to turn this crisis into an opportunity for commercialization and market launch. In addition, in relation to the government’s digital New Deal promotion, we will focus on fostering companies in the 4th industrial revolution information and communication technology (ICT) sector and do our best to open a new paradigm of digital business in the region’s industry, which has been concentrated mainly on manufacturing.”

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