Jeonnam Province Supports Business Stability for Young Entrepreneurs

92 Companies Receive First Certification
Benefits Include Increased Loan Limits

Jeonnam Provincial Government Office Building View

Jeollanam-do announced on the 20th that, in order to actively support the healthy growth and business activities of youth enterprises, it has certified 92 companies as Jeollanam-do Youth Enterprises for the first time after receiving applications.

The 'Jeollanam-do Youth Enterprise Certification System' is designed to prevent the outflow of young people and create a favorable environment for business management. It selects and certifies small and medium-sized enterprises run by youth aged 18 to 45 throughout the year.

Certified companies will receive increased loan limits for various policy funds, including special funds for SME development (up to 500 million KRW per product-specific agreement), and an additional 0.5%P support on top of the 2.4%P interest rate differential already provided for loan interest, thereby reducing the interest burden. This is expected to greatly help stabilize youth business management.

In addition, certified companies will receive benefits such as additional points when participating in various SME support projects, including the Jeonnam-type Strong Small Business Development program. The policy is also linked with SME development policies such as priority procurement by public institutions, which is expected to enhance the competitiveness of young entrepreneurs.

Seo Eunsu, Director of the Jeollanam-do Job Investment Promotion Bureau, said, "Youth enterprises are the future growth engine of the local economy, so I hope they will continue to grow, take firm root in the region, and advance into the global market," adding, "We will actively prepare customized policies so that the Jeonnam-type Youth Enterprise Certification can contribute to the business stability of young entrepreneurs."

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