The Ministry of SMEs and Startups said on the 22nd that it held the fifth relay roundtable on small business growth at Dream Square in Mapo-gu, Seoul, under the theme "Young local entrepreneurship is the future of the region."
The roundtable is the fifth in "Season 2 of the relay roundtable focused on small business growth," which has been underway since Nov., following "Season 1 of the roundtable on recovery and stability for small businesses," held from July to Oct.
More than 20 people attended, including eight young "local entrepreneurs" creating new opportunities in their regions and academic experts.
Professor Kim Si-yeol of Jeonju University gave a keynote presentation titled "A new perspective on local entrepreneurship and its importance." Kim emphasized that young people starting businesses in their regions can lead to job creation and a sustainable local economy. Kim suggested that regional universities can serve as platforms to foster young local entrepreneurs.
In the case studies, young local entrepreneurs from regions such as Wonju and Cheongju shared their experiences building brands based on local resources and their own stories.
Participants introduced how they expanded their businesses through online distribution and entry into overseas markets, including CEO Moon Ji-yeon of "Kkae Roastery Okhee Mill," which operates a perilla seed roastery in Gangwon Province; CEO Cho Yoon-sik of "Pobangteo Jjukkumi," which grew from a stir-fried webfoot octopus restaurant in Seoul's Pobangteo Market into a company making all-purpose sauces; and CEO Lee Ji-eun of "Yukgeori Famous Dumplings," which makes vegan and low-sugar dumplings at Cheongju's Yukgeori Traditional Market and exports them to the United States, Australia, and other markets.
In the open discussion, participants shared difficulties, trial and error, and ways to overcome them during the process of starting businesses in their regions. They also discussed policy proposals and on-site opinions for sustainable growth, including branding that uses local resources and identity, innovation in products and services, and strategies for global expansion.
Minister Han Seong-sook said, "Many young people are creating new opportunities by taking on the challenge of starting businesses in their regions to do what they want to do," and added, "The Ministry of SMEs and Startups (MSS) will, starting next year, create an environment where young people can grow into global corporations from their regions without fear of failure through the 'project to discover 10,000 local entrepreneurs led by young people.'"