New Dedicated Startup Space Established for Entrepreneurial Small Business Owners

Opening Ceremony of Raikontown Branch No.1 Held in Sejong

On the 4th, the Ministry of SMEs and Startups held the opening ceremony of Raikontown Branch No. 1 in Sejong and conducted a business agreement ceremony to establish a special guarantee program for entrepreneurial small business owners.

Raikontown is a space created to promote the prepared startups and growth of creative small business owners and regional innovation. While there have been many hubs supporting technology-based startups such as Tipstown, this is the first time an open comprehensive startup support hub for entrepreneurial small business owners has been established.

Raikontown Sejong Branch was remodeled by the local government providing a vacant standalone building after the existing Sejong Veterans Hall relocated. It consists of three floors: the first floor houses a select shop and sales area where products of entrepreneurial small business owners can be directly experienced and purchased online. The second floor includes a coworking space and office space for entrepreneurial small business owners. The third floor's training room and conference rooms will be used to operate education and seminars for capacity building.

Along with the opening ceremony of Raikontown, a business agreement ceremony for financial support for entrepreneurial small business owners was also held. To serve as a catalyst for the sustainable growth of entrepreneurial small business owners, the Small Enterprise and Market Service, the Korea Credit Guarantee Fund, and Kookmin Bank agreed to create a special guarantee program worth 100 billion KRW. Companies selected for representative entrepreneurial small business owner fostering projects by the Ministry of SMEs and Startups, such as the New Business Startup Academy, Strong Small Business Growth Support, Local Creator Activation, and Private Investment-Linked Matching Loans, will be able to secure funds by receiving guarantees of up to 200 million KRW.

Minister Oh Young-joo stated, “Entrepreneurial small business owners are a new alternative that can solve various problems currently faced by our country, such as regional extinction and lack of competitiveness in the service industry, and they are a vital force for our economy,” adding, “I hope Raikontown becomes a space that helps entrepreneurial small business owners grow into Raikon and revitalizes neighborhood commercial districts. Starting with the Sejong branch, we will collaborate with local governments to expand Raikontown nationwide.”

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