Jung Wono to Nurture 1,000 "Startup Rookies"… Up to 60 Million Won in Support Per Person

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Jung Wono, the Democratic Party candidate for Seoul mayor, announced on April 28 that he will nurture 1,000 "startup rookies" to promote youth entrepreneurship. He plans to provide each selected individual with up to approximately 60 million won in support, including around 40 million won in initial business funds, a monthly stipend of 1 million won for one year, and a 'total care service' encompassing office space and accommodation.

Jung Wono, the Democratic Party candidate for Seoul mayor, is speaking at an election countermeasure committee meeting held on the 28th at the campaign office set up in a building in Jung-gu, Seoul. Photo by Yonhap News.

On the morning of April 28, at the Samuiwon Startup Center at Kyung Hee University's Seoul campus in Dongdaemun-gu, Seoul, Jung made this announcement after holding a meeting with young entrepreneurs, hosted by the Democratic Party University Students Committee and the Seoul Metropolitan Party University Students Committee. He unveiled his pledge to support youth entrepreneurship and career development.

Jung plans to select 1,000 "startup rookies" through a two-night, three-day "Changrathon" (startup + marathon) program. The program targets Seoul residents aged 39 or younger who have no prior startup experience. Prospective founders can apply by simply submitting a self-introduction or idea, without the need for a complex business plan or external consulting.

The 1,000 selected startup rookies will receive comprehensive support covering essential needs such as living expenses, capital, workspace, and housing. Three "Startup Challenge Campuses" will be established in Sinchon, Gwanak, and Cheongnyangni, providing these young entrepreneurs with one year of artificial intelligence (AI) training, legal, tax, and administrative consulting, mentoring and networking, as well as access to facilities, software rentals, and connections to investors—all in a one-stop environment designed to meet every startup need.

To allow participants to focus on their startups without worrying about living costs, a monthly stipend of 1 million won will be provided throughout the training period, and office space within the campus will be available free of charge. This office space will also be available for up to 12 months after graduation. Additionally, "Youth Startup Dormitories" will be created in vacant commercial properties near major subway stations in Sinchon, Gwanak, and Cheongnyangni to ease housing burdens.

If participants propose solutions to public issues arising in Seoul over a 12-month period, they will receive approximately 40 million won in seed funding for their initial launch.

Even if a participant does not succeed in launching a business after completing the training, they will be issued a "Certified Youth with Career Experience" certificate, and will receive benefits such as access to office rentals in Seoul and incentives when applying for Seoul city's employment or entrepreneurship programs. Notably, the city will establish a 100 billion won Youth Startup Fund to invest in the scaling up of promising startups.

Jung stated, "Support for young people is not a consumable expense, but an investment in Seoul's future. Even if they fail, the technology, data, and experience accumulated in the process will be registered in the 'Seoul Startup Experience Bank,' becoming a public asset. I will ensure that Seoul provides a startup playground where young people can freely pursue their dreams and rise again even if they stumble."

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