The Ministry of SMEs and Startups and the Korea Institute of Startup and Entrepreneurship Development (KISED) said on the 22nd they will hold the 14th "rewriting success stories" re-challenge case contest to uncover the experiences of successful businesspeople and spread a culture of trying again.
The contest is open to any representative of a restarted corporation with a record of closure who is not a winner of a transfer contest, and accepts essays that capture the difficulties experienced in the actual restart process and how they were overcome.
A total of five awards will be given, including the Ministry of SMEs and Startups Minister's Award and the Korea Institute of Startup and Entrepreneurship Development (KISED) President's Award, with total prize money of 11 million won. Additional benefits for winners include: ▲ extra points in the document screening for the 2027 Re-challenge Success Package ▲ support for producing promotional videos (grand prize and top prize) ▲ preferential treatment in the Korea Technology Finance Corporation (KOTEC) Restart Support Guarantee.
In particular, the newly established "challenge encouragement fund" this year is expected to draw strong participation from restarted corporations by paying an honorarium of around 200,000 won per essay only to applicants who consent to public disclosure to the general public among excellent cases separately selected, including winning entries.
Applications will be accepted online through the K-Startup website and are open until 4 p.m. on Aug. 20.