Press

GS Retail Supports Youth in Starting Social Economy Enterprises GS Retail has signed a Memorandum of Understanding (MOU) with the Together Working Foundation and Underdogs Co., Ltd. for the 'Eco Social Impact Project'. The 'Eco Social Impact Project' is a corporate social responsibility initiative launched by GS Retail in 2017, providing support to prospective entrepreneurs or early-stage startups seeking to establish social economy enterprises in the sustainable environmental manufacturing sector. The fifth cohort of the 'Eco Social Impact Project' will be conducted in collaboration with the Together Working Foundation, a specialized institution supporting startup and nurturing programs across different life stages to address employment issues and realize social value, and Underdogs Co., Ltd., a startup-focused educational institution that discovers and cultivates innovative entrepreneurs both domestically and internationally. To provide effective startup support, GS Retail will establish close cooperation with both organizations and implement various customized startup programs including entrepreneurship education, resource networking, and market development for youth interested in environmental startups. Recruitment for the fifth cohort of GS Retail's 'Eco Social Impact Project' will begin on March 22. Any youth preparing to launch socially innovative environmental manufacturing startups are eligible to apply. Selected participants can receive support for prototype manufacturing and business funding based on results. If business viability is recognized, market development opportunities will also be provided. The 'Eco Social Impact Project' has so far produced a total of 39 startups from cohorts 1-4. Following last year's 'Dajeong Market,' which created pet treats using imperfect agricultural products, this year's 'ToTo Company,' which addresses environmental pollution issues and creates job opportunities for career-interrupted women through sanitary pad planning, expanded its market reach through a GS Shop donation broadcast. Kim Won-sik, Senior Executive of GS Retail's Management Support Division, stated, "As GS Retail practices ESG-centered management principles, we will establish stronger cooperation with both institutions through this MOU and continue to strive to create greater social impact in our respective fields."