Jeonju University, Nambu Market Merchants Association, and The Red Join Forces to Boost Local Startups

Talent Development and Revitalization of Traditional Markets

Jeonju University (President Park Jinbae) Startup Support Group, the Nambu Market Merchants Association, and The Red Co. have joined hands to revitalize local startups.

According to Jeonju University on June 12, the three organizations signed a business agreement the previous day at "Moijang" in Nambu Market. The initiative aims to foster synergy by connecting the university's cultivation of local startup talent with the revitalization of the region's traditional markets.

Jeonju University Startup Support Group, the Nambu Market Merchants Association, and The Red Co. joined hands to revitalize local startups. Photo by Jeonju University

The signing ceremony was attended by Professor Kim Siyeol (Dean of the Department of Local Venture Studies at Jeonju University), who oversees the "Local Content-Focused University Project" at Jeonju University, Oh Gwiseong (President of the Nambu Market Merchants Association), Jung Heesu (CEO of The Red Co.), and other representatives from each organization.

Through this agreement, the participating organizations plan to carry out various collaborations to build a local startup ecosystem, including: conducting joint cooperative projects to revitalize local startups; exchanging personnel and knowledge in mutually interesting fields; and sharing facilities and equipment.

With a long tradition in local content entrepreneurship and solving regional issues, Jeonju University has been implementing the "Local Content-Focused University Project" since this year. With this agreement as a starting point, the university plans to operate a variety of collaborative programs to drive business innovation among small merchants in Nambu Market, the representative traditional market in Jeonju. To this end, Jeonju University has established a base space at "Moijang" in Nambu Market to promote practical, field-based collaboration.

Kim Sangjin, Head of the Startup Support Group, said, "We hope this agreement will serve as an opportunity for traditional markets to reemerge as leading commercial hubs in the region," adding, "We will promote innovation among small merchants based on intellectual property rights, spread awareness of local startups, and expand real opportunities."

He continued, "We will further strengthen the cultivation of talent and discovery of enterprises for local startups, and create a sustainable local startup and regional value innovation ecosystem."

Meanwhile, through this agreement, Jeonju University has decided to use one room within the Moijang cultural marketplace as a base space for local startups. Including this, the university will establish the "JB Local Startup Village," which will consist of four startup base spaces in total, including locations in Nambu Market and near Weridangil. This initiative aims to provide practical support for local startup activities by student entrepreneurs.

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