The Small Enterprise and Market Service (SEMAS) said on the 24th that it signed an "ESG business agreement to support young small-business owners' success" with Hana Financial Group to foster young small-business owners and reinvigorate local commercial districts.
The agreement was prepared to bring young entrepreneurs into traditional markets and neighborhood shopping areas and build a support system by commercial district. It also set a goal to boost the self-sustainability of local commercial districts centered on young small-business owners and to establish a foundation for growth.
Starting next year, Hana Financial Group will create a 5 billion won co-prosperity fund over four years and push projects such as night markets, hands-on events, and region-specific programs in 60 commercial districts nationwide, centered on young small-business owners. The plan is to cultivate commercial district-level content to attract young small-business owners and visitors.
SEMAS will handle management of implementing agencies, operational support, and linkage with policy programs. It will identify support programs for young small-business owners and provide institutional support and oversight so the projects can proceed smoothly. By linking with existing policy programs such as local commercial district development, culture- and tourism-oriented market development, and local corporations development, it plans to minimize overlapping support and maximize project effectiveness.
With this agreement as a starting point, the two institutions plan to broaden the scope of cooperation to foster young small-business owners and revitalize local commercial districts.
In Tae-yeon, SEMAS chairman, said, "Small-business owners are key players in local economies and important in preserving unique local cultures and communities," adding, "We will support the corporation's expertise and management capabilities so that Hana Financial Group's private resources can lead to tangible results in local commercial districts."