Goheung-gun Adds 400 Million Won to 'My Love Goheung Fund' for Youth Jobs

Support for Local Youth Entrepreneurship and Business Succession

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Goheung County (Governor Song Gwi-geun) held the 'My Love Goheung Fund' Management Deliberation Committee and decided on the 23rd to inject an additional 400 million KRW to support local youth entrepreneurship and business succession.

In this second supplementary budget, the county added three projects: ▲Goheung-style Youth Business Succession Support ▲Youth Challenge Project Support ▲Youth CEO Marketing Activation Support, focusing on establishing a virtuous cycle in the population structure by attracting young people.

The Goheung-style Youth Business Succession Support provides up to 20 million KRW per person to young people who have succeeded their (grand)parents' businesses, covering costs such as agricultural facility installation and store remodeling for business succession.

The Youth Challenge Project Support offers up to 15 million KRW per team (one person) for product development, promotion and marketing expenses, and facility renovation costs necessary for startups. The Youth CEO Marketing Activation Support provides up to 2.7 million KRW per person for promotion and marketing expenses of products produced by young CEOs.

The My Love Goheung Fund initially allocated 900 million KRW in the main budget for five projects, including support for young farmers' land lease fees.

With the addition of three projects and 400 million KRW in this second supplementary budget, a total of 1.3 billion KRW will be invested in youth employment, entrepreneurship, and improvement of living conditions.

A county official stated, "Through the solid operation of the My Love Goheung Fund, we aim to enable young people, the core productive group, to enhance their life satisfaction through stable economic activities in the region, and we will continue to discover and support effective customized support policies."

The matters decided at the My Love Goheung Fund Management Deliberation Committee will be finally confirmed during the review of the second supplementary budget proposal at the 296th Goheung County Council (extraordinary session).

Meanwhile, the My Love Goheung Fund, initiated by Governor Song Gwi-geun during the 7th local government term, is currently operating with 9 billion KRW raised toward a goal of 10 billion KRW by next year to actively respond to youth inflow and population decline issues.

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