Gov’t to Spend 10-Trillion Won to Help Startups

Write : 2017-04-19 13:23:24 Update : 2017-04-19 15:49:42

Gov’t to Spend 10-Trillion Won to Help Startups

The government will spend more than ten trillion won, or about eight-point-seven billion dollars, to vitalize startup businesses over the next three years.
In an economic ministerial meeting on Wednesday, Finance Minister Yoo Il-ho introduced the plan.

Around two trillion won of the fund will go to helping aspiring entrepreneurs start their own businesses and seven-point-four trillion to supporting their growth. The remaining 700 billion won will be used to give failed startups a second chance.
Yoo said that special guarantee and credit loan programs worth 800 billion won will be devised to support would-be businesspeople. 

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