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According to Yonhap News,
(DAEJEON=Yonhap News) Daejeon City announced March 25 that it will invest a total of KRW 34.8 billion in 16 projects in 2016 to support startups and people planning to start businesses in order to revive the regional economy.
The city will invest KRW 9.6 billion in supporting startups directly and KRW 2 billion in building a tailored startup ecosystem to help 60 entrepreneurs and 15 early-stage startups. It will also invest KRW 1.6 billion in establishing the infrastructure for startups.
The city will operate a business center for one-man startups and a smart venture startup school, nurture intellectual property companies, find creative ideas, hold festivals for creative products and provide a mentoring program to solve the grievances of the startups.
The city will also invest KRW 25.2 billion in supporting startups indirectly to transform the creative ideas into businesses.
jchu2000@yna.co.kr
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Source: Yonhap News (Mar. 25, 2016)
** This article was translated from the Korean.