Mapo-gu (Mayor Kangsoo Park) announced that it would recruit participants for the ‘Preliminary Young Merchants’ Startup Support Project’ until October 17 to help local young people pursue their entrepreneurial challenges. This project is designed to allow young people to experience practical entrepreneurship and enhance their business capabilities.
The startup support project will set up and operate five container-type startup shops in the Red Road R5 area (365-29 Seogyo-dong), a place popular with domestic and international tourists. Any young person aged 19 to 39 residing in Mapo-gu can apply.
Selected participants will be provided with a 7.5㎡ store space, along with basic operational supplies and interior support. In addition, practical management support such as hands-on startup training and one-on-one expert mentoring will be provided.
The sales items are limited to items that feature Korean characteristics, such as crafts, souvenirs, tourism products, and experience content. Participants must directly operate the store for more than 40 hours a week, and the store usage fee is set at 200,000 won per month, including management fees. However, gas, water, and drainage facilities cannot be installed or used.
The screening process consists of document screening and interview screening. In the document screening, entrepreneurial intent, the thoroughness of the business plan, and the suitability of the item are evaluated, while the interview focuses on the specificity, originality, and market competitiveness of the business. Mapo-gu plans to give additional points to economically disadvantaged young people to expand participation opportunities.
The final selected participants will be individually notified in early November, and they will operate their stores for up to six months starting in December.
Mapo-gu Mayor Kangsoo Park said, “Red Road is a street where the sensibilities of youth and the vibrancy of tourism coexist,” and “I hope this startup support project becomes a stepping stone for challenges for young people and revitalizes the local commercial area.”
