Press

Public and private sectors in Iksan, Jeonbuk join hands to support youth technology startups. Iksan City signed a memorandum of understanding (MOU) on December 20 with SK E&S (Jeonbuk Energy Service), a local company, and Underdogs, a startup-focused educational institution, for the 'Public-Private Cooperation WITH LOCAL Youth Startup Support Project.' The agreement aims to activate youth startups in Iksan by linking them with local specialized industries and high-value-added future technologies, while providing support for prototype development, startup education, and specialized programs. To this end, the city and SK E&S have secured a total of 1 billion won in funding, with 850 million won and 150 million won respectively, while Underdogs, an education specialist, will provide 6-month education and specialized programs. The WITH LOCAL Youth Startup Support Project will select 20 teams of young (prospective) entrepreneurs aged 18-39 within 3 years of startup, and provide up to 40 million won in commercialization funds including prototype development costs. Mayor Jung Hyun-yul stated, 'Starting with this WITH LOCAL project, the public and private sectors will cooperate to consistently support youth technology startups, laying the foundation for both the local economy and youth to innovate and grow together, and making efforts to help them settle in the region.'