Jungjingong Selects 4 Startups to Relocate to Abandoned Mine Areas in Gangwon

Gangwon Next Unicorn Project Finals... Competition Rate 21.7 to 1
KickTheHurdle, VM Korea, Joan Kang, Yonghyun BM Selected

On the 28th, representatives of the final award-winning companies of the Gangwon Next Unicorn Project are taking a group photo.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 29th that it has finally selected four companies to support relocation to abandoned mining areas through the 'Next Unicorn Project' finals.

The Gangwon Next Unicorn Project is a program that supports the relocation of youth startup companies to abandoned mining areas to revitalize the regional economy and promote balanced development. Since its inception in 2019, 10 youth startup companies have established new bases in the abandoned mining areas of Gangwon.

This time, the grand prize was awarded to Kick the Hurdle (CEO Kim Tae-yang), a healthcare commerce company developing natural material-based plant-derived probiotic products. The excellence award went to VM Korea (CEO Jo Beom-dong), a total immobility development and manufacturing company; the merit award was given to Joan Kang (CEO Lee Mi-ri), a premium pet food company using herbal medicine and superfoods; and Yonghyun BM (CEO Kim Sung-won), a manufacturer of eco-friendly automotive core parts such as automotive motor components and industrial valves, received an award.

These companies will receive benefits including ▲up to 1 billion KRW in support per company (funded by Kangwon Land) ▲policy funds and investment/loan linkage support (SBC) ▲preferential support for alternative industry loans in abandoned mining area promotion districts and linkage to urban regeneration project businesses (Korea Mine Reclamation Corporation) ▲and linkage to win-win programs (Foundation for Large and Small Business, Agriculture and Fisheries Cooperation).

The selected companies must relocate their headquarters, factories, and research institutes to one of the following locations within three years: Taebaek-si, Samcheok-si, Yeongwol-gun, or Jeongseon-gun in Gangwon Province. This is expected to create new jobs and revitalize the regional economy in the abandoned mining areas of Gangwon. Chairman Kim Hak-do said, "A total of 87 youth startup academy graduate companies applied for this contest selecting four companies, recording a competition rate of 21.7 to 1," adding, "We will generously support excellent companies graduating from the Youth Startup Academy by utilizing various policy tools such as funding, market access, and manpower so that they can invigorate the regional economy and grow into global unicorn companies."

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