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Gwangju to Foster 70 Start-Up Companies in 2014

(GWANGJU = Newsis) The city of Gwangju announced on March 9 that it will foster a total of 70 start-up companies that have brilliant business items struggle to finance their projects.

The city will hold a contest in the first quarter to select candidates for its program. Each candidate will be provided with KRW 20 million subsidies and will be offered to move in the Gwangju business foundation support center for free, and receive various one-stop supports from the city including the mentor program, business consulting service, education & training sessions.

The city also plans to offer its young adults job opportunities and resolve manpower shortage of the local small and medium-sized enterprises (SMEs) by implementing various types of youth internship programs.

It will also invest a total of KRW 4.5 billion for the next four years in Gwangju Technological High School to provide training programs for the school’s 1,800 students.

“What we need the most to vitalize the local economy is that our young people would have opportunities to find stable and suitable jobs,” said a city official.

“The city will implement various projects and support systems to work out measures to tackle the problem of unemployment among young people.”

Source Text

Source: Newsis (Mar. 9, 2014)

** This article was translated from the Korean.