Five Organizations Including Gwanghae Management Corporation Sign Joint Agreement for 'Next Unicorn'

The heads of five major institutions, including the Korea Mine Reclamation Corporation, the National Balanced Development Committee, Kangwon Land, the Small and Medium Business Corporation, and the Foundation for Cooperation between Large, Small, and Medium-sized Agriculture and Fisheries Enterprises, signed a joint agreement for the 'Next Unicorn Project' to relocate youth startup companies in the Kangwon mining area on the 27th at the Kangwon Land Grand Hotel.

[Sejong=Asia Economy Reporter Kwon Haeyoung] The Korea Mine Reclamation Corporation is partnering with the National Balanced Development Committee and others to support the relocation of youth startup companies to abandoned mining areas.

The heads of five major institutions, including the Korea Mine Reclamation Corporation, the National Balanced Development Committee, Kangwon Land, the Small and Medium Business Corporation, and the Foundation for Cooperation between Large, Small, and Medium-sized Agriculture and Fisheries Enterprises, signed a joint agreement for the 'Next Unicorn Project' to relocate youth startup companies to Kangwon abandoned mining areas on the 27th at the Kangwon Land Grand Hotel.

This project is a support program aimed at strengthening the foundation for innovative growth in Kangwon abandoned mining areas and attracting competitive youth companies. It started in 2019 as the first case of open collaboration among public institutions. In 2020, six companies were selected, and according to the relocation plan, each company will receive up to 1 billion KRW in relocation support funds.

The Unicorn Project, which will be carried out over a total of seven years until 2025, has established a more robust business system and support ecosystem, ranging from direct relocation support to post-management.

Lee Cheongryong, Chairman of the Korea Mine Reclamation Corporation, stated, "Until now, the Korea Mine Reclamation Corporation's efforts for the promotion of abandoned mining areas were one-directional, but from now on, through securing collaboration-centered momentum, it will become a new support system for regional balanced development."

For this year's Next Unicorn Project, after preliminary and final screening processes, three companies relocating to Kangwon abandoned mining areas will be selected in December.

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