Uljin County Launches This Year's Small Business Family Succession Youth Support Program

Up to 24 Million KRW Support
for Business Environment Improvement
and Promotional Expenses

Uljin County, North Gyeongsang Province, will launch the "2025 Small Business Family Succession Youth Support Program" starting August 11, aiming to provide management funds to young people who discover new value in their direct ancestors' workplaces and succeed to the family business.

This program supports young small business owners who succeed their parents' or grandparents' businesses by providing funding for business environment improvement and promotional activities. Eligible expenses include replacing outdoor signage, improving interior design, purchasing new store facilities such as CCTV, kiosks, and POS devices, as well as producing promotional materials and covering various online and offline marketing costs.

Eligible applicants are young small business owners aged between 19 and 49 (as of January 1 of the application year) who, along with their parents or grandparents, have both their residence and business location in Uljin County, have operated in the same industry for more than 15 years, and are the second or later generation to continue the family business.

The program will cover 80% of the total project costs, with a maximum of 20 million KRW for store environment improvement and up to 4 million KRW for marketing and promotional expenses, allowing for a total project funding of up to 24 million KRW.

However, those engaged in restricted industries such as adult entertainment bars, finance, insurance, and real estate, as well as those who have received support from similar programs, non-store or unmanned business owners, businesses that are temporarily closed or shut down, those with overdue local taxes or non-tax revenues, students, and business owners who cannot transact with a bank account in their own name, are excluded from eligibility.

The application period runs from August 11 to August 22. Applications and supporting documents will undergo a document review to determine eligibility, and only those who pass this stage will proceed to an in-person interview, after which the final recipients will be selected.

Interested small business owners should refer to the "Notices/Announcements" section on the Uljin County Office website, complete the application form and business plan, and prepare all required documents, including a business registration certificate, family relationship certificate, VAT standard certificate, list of full-time employees, local tax payment certificate, and resident registration abstract. Applications must be submitted in person to the Regional Economy Team, Department of Economy and Transportation, Uljin County Office.

County Governor Son Byeongbok stated, "I hope this Small Business Family Succession Youth Support Program will serve as an opportunity to nurture young small business owners in Uljin County who are continuing their family businesses, thereby revitalizing the local economy. We will continue to do our best to ensure that many young small business owners in Uljin County can ease their financial burdens and pursue creative and innovative management."

Uljin County Office.

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