KT&G Growing Social Ventures, Completes Support for 97 Teams

'Imagination Startup Camp' Operation
36 Teams Also Selected for Government Projects

Graduates of the 5th class of KT&G's youth startup support program, 'Sangsang Startup Camp,' are taking a commemorative photo after attending the performance presentation held in March at 'KT&G Sangsang Planet' located in Seongsu-dong, Seoul.

[Asia Economy Reporter Lim Hye-seon] On the 26th, KT&G announced that it will focus on fostering social ventures as part of its ESG (Environmental, Social, and Governance) activities. Social ventures refer to "innovative business models that provide solutions to social problems with creative and challenging entrepreneurial spirit."

Since 2017, KT&G has been operating the "Sangsang Startup Camp" to discover and nurture social entrepreneurs who aim to solve social issues such as environmental concerns and job creation for vulnerable groups through their businesses.

KT&G holds "The Debut" event to share the achievements of graduates from the Sangsang Startup Camp, providing opportunities for new investments and networking. Through five sessions held so far, 97 teams have graduated, among which 36 teams have been selected for government-supported social entrepreneur development projects, achieving notable results. Additionally, the program has generated employment for 745 people and accumulated sales of approximately 19.8 billion KRW.

Among the graduates are social innovation entrepreneurs who cultivate "good companies" that generate profits while exerting positive social and environmental impacts. "WithWithout," a resident of KT&G’s youth startup exclusive space "Sangsang Planet," introduced the salad subscription platform "Salad Weeks" and was selected as an outstanding team in the 5th Sangsang Startup Camp.

When subscribers apply for the salad subscription, salads are prepared at nearby partner stores, and subscribers pick up their salads on the subscription day. By reducing distribution distance, the salads are fresher, priced 50% lower than retail prices, and use reusable containers, which reduces carbon emissions and single-use waste.

There is also a company gaining attention for upcycling by creating products using waste and secondhand materials. "Tread & Groove," a graduate of the 5th Sangsang Startup Camp, is a startup that processes discarded tires to make sandals, shoes, and boots. Globally, one billion tires are discarded annually, and recycling four discarded tires is known to reduce approximately 146 kg of carbon emissions.

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