Daejeon City Provides Up to 3 Million KRW Support for Early-Stage Young Entrepreneurs

Provided by Daejeon City

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City is promoting the ‘Youth Startup Support Card Project’ to support local youth entrepreneurship.

According to the city on the 29th, the project will select 290 early-stage entrepreneurs and provide a total of 3 million KRW over six months, with 500,000 KRW per month.

The support funds will be provided as card points and can be used for expenses such as promotion, education, meals, and consumables necessary for startups. The main purpose of the project is to support early-stage young entrepreneurs who have challenged entrepreneurship with innovative ideas but face difficulties due to economic conditions.

The eligibility criteria are young entrepreneurs aged 18 to 39 who are registered residents of Daejeon as of the application date, have a business location in Daejeon as of the announcement date, have been in business for less than three years since startup, and have an annual sales revenue of 300 million KRW or less, and are currently operating their business.

Applications can be submitted from the 30th of this month to the 13th of next month through the Daejeon Youth Startup Support Card website and the Daejeon Biz website, the small and medium enterprise support portal of Daejeon City.

After receiving applications, the city plans to select the final recipients through document review and evaluation by a selection committee composed of external experts. The evaluation will comprehensively reflect factors such as the period of residence in the region, the duration of the startup, and annual sales revenue.

The final selected candidates will be announced on May 2nd through the Daejeon Youth Startup Support Card website.

For more detailed information about the project, please refer to Daejeon City Hall or the Daejeon Youth Startup Support Card website (announcement), or contact the Youth Policy Division of Daejeon City Hall or the Daejeon Job and Economic Promotion Agency.

Park Mun-yong, Director of the Youth and Family Bureau of the city, said, “The project is being promoted to support early-stage young entrepreneurs,” and added, “We hope for the active interest and participation of local young entrepreneurs.”

Meanwhile, the Startup Support Card project has been implemented since 2018, and until last year, 1,127 young entrepreneurs have received support. In particular, this project is highly rated by youth participants and is considered one of the city’s representative youth policies.

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