Donation from Seoul City-supported 'Hangukeoeum Junggae' for Junior Startups
Seoul City's First Voluntary Donation Case, Establishing a 'Hall of Fame' to Honor the First Company
[Asia Economy Reporter Lim Cheol-young] Kwak Ki-woong, CEO of the promising fintech startup ‘Hanguk Eoum Junggae,’ donated funds to support the growth of junior startups.
On the 30th, according to Seoul City, Hanguk Eoum Junggae, a startup that had received support, voluntarily donated 1 million won, a portion of its profits, to Seoul City for the benefit of junior startups. Previously, Seoul City reviewed and approved this at the Donation Review Committee on the 26th.
Seoul City hopes that this case will strengthen a virtuous cycle where the success of individual startups leads to the success of the startup ecosystem. To this end, Seoul Startup Hub will establish a ‘Hall of Fame’ to promote a culture of donations among startups and provide recognition to those participating in donations.
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Seoul City plans to use the donated funds to create an ‘Early Startup Support Fund’ aimed at nurturing promising early-stage startups. Park Dae-woo, Director of Economic and Job Planning at Seoul City, stated, “This case, where a startup supported by Seoul City has grown and donated to nurture junior startups, will be a meaningful first step in revitalizing Seoul’s startup ecosystem. The donation will be reinvested as funds to nurture junior startups, and we will continue to work with entrepreneurs to ensure the sustainable growth of Seoul’s innovative startup ecosystem.”
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