Press

GS Retail announced on the 30th that it is recruiting participants for the 'Social Impact Project,' a business support initiative for youth social venture startups, until the 9th of next month. The 'Social Impact Project' is a corporate social responsibility initiative by GS Retail designed to provide education and startup opportunities to aspiring entrepreneurs who want to launch social ventures, early-stage startups that have already started but need expert mentoring and business support, and young people who want to systematically learn about entrepreneurship. Starting for the first time in 2018, the 'Social Impact Project,' which is now recruiting for its third cohort, discovers and supports social ventures that solve social problems through manufacturing business in collaboration with social economy company 'Underdogs' and social finance institution 'Korea Social Investment.' The project consists of two main stages: 'startup education' where participants receive lectures and training to lay the foundation for social innovation entrepreneurship, and 'prototype manufacturing and business implementation/advancement' to materialize businesses and create products. The entire process will run sequentially for approximately five months from the 24th of next month through July. During the project, current entrepreneurs, consulting experts, legal experts, and GS Retail employees participate as mentors. Any young people preparing for social innovation manufacturing startups can participate. A total of 20 teams (individuals) are being recruited. The top 10 teams with excellent project results will receive 3 million won for prototype manufacturing costs, and business support funds will be provided on a differentiated basis according to final rankings: 1st place 30 million won, 2nd place (2 teams) 10 million won each. Additionally, products recognized as commercially viable in the commerce sector will be given opportunities for distribution through GS Retail's donation broadcast.