Gyeonggi-do Announces Social Economy Regional Revitalization Project Contest... 30% Project Cost Support

Gyeonggi Provincial Government

Gyeonggi Province is calling for ideas to promote the ‘Social Economy Regional Revitalization Project’ targeting 31 cities and counties within the province from the 8th to the 26th of this month.

The Social Economy Regional Revitalization Project is a program where if a city or county proposes collaboration among social economy organizations within the region, or between organizations, businesses, public institutions, and academia, 30% of the project cost will be supported by provincial funds.

Eligible projects include ▲local issue matching projects that concretize the 17 UN SDGs (Sustainable Development Goals) such as climate change response, quality jobs, and economic growth ▲support projects for discovering social services linked to the business capabilities of social economy organizations ▲projects to revitalize the social economy ecosystem such as developing revenue models, pioneering sales channels, and raising awareness.

For example, this includes joint product planning or joint brand development of local specialties, and product design development tailored to sales channels.

Gyeonggi Province will form a review committee to evaluate the submitted project plans from cities and counties, comprehensively assessing the appropriateness of the project plan, the requested amount, project execution capability, regional connectivity, and the validity of the budget plan to select supported projects.

Additional points will be awarded for projects related to discovering 100 Impact Unicorns, 10 Impact Franchise models, 1 trillion KRW in social value procurement, and 12,000 social economy organizations.

Seok Jong-hoon, Director of the Social Economy Bureau of Gyeonggi Province, stated, "While the government has announced a policy to reduce support for the social economy, Gyeonggi Province is taking proactive measures to lead the resolution of social issues and enhance competitiveness," adding, "We look forward to active participation from the 31 cities and counties."

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