Ministry of SMEs and Startups Announces Call for Digital Commerce Specialized Institutions... "Supporting Small Business Owners' Online Expansion"

[Asia Economy Reporter Junhyung Lee] The Ministry of SMEs and Startups announced on the 17th that it is recruiting specialized institutions to comprehensively support small business owners in digital content practice, production, and entry into online markets. The application period is from the 18th of this month to the 16th of next month.

Since last year, the Ministry has been promoting the "Digital Commerce Specialized Institution Support Project" with a budget of 2.4 billion KRW, and this year it will expand the project to 6 billion KRW. They plan to add one institution in the metropolitan area and about three institutions outside the metropolitan area to spread the interest and enthusiasm for digital and online transformation among small business owners in local areas, according to the Ministry.

Specialized institutions will receive up to 1.2 billion KRW in project funds to establish digital and online infrastructure and operational programs. They will also support the entire process for small business owners to enter the online market, including content production and online store registration. However, institutions must cover 20-40% of the total project cost themselves.

The Ministry plans to increase the support limit for specialized institutions located outside the metropolitan area to operate specialized and autonomous programs tailored to regional characteristics, thereby supporting the "Regional Balanced Digital New Deal." Accordingly, institutions in the metropolitan area can receive project funds up to 1 billion KRW with a 30% self-contribution condition, while institutions outside the metropolitan area can receive up to 1.2 billion KRW with a 20% self-contribution condition.

Institutions wishing to participate in the project must have facilities such as broadcasting studios and editing rooms, classrooms, and shared offices. Selected institutions are required to support 1,000 small business owners or products annually.

Lee Hanyeong, head of the Ministry’s Online Economy Promotion Team, said, "We will strengthen support so that 'Digital Commerce Specialized Institutions' actively collaborate with private platforms to serve not only as emergency rooms for small business owners but also as incubators for star small business owners."

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