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SBC and Hana Financial Group Partner to Invest 5 Billion Won in Young Entrepreneurs
🇰🇷 South Korea /Economy & Trade

SBC and Hana Financial Group Partner to Invest 5 Billion Won in Young Entrepreneurs

From Dong-A Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

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  • The Small and Medium Business Corporation (SBC) and Hana Financial Group have partnered to support young entrepreneurs.
  • The collaboration, formalized through an ESG agreement, will invest 5 billion won over four years to foster approximately 4,000 small business ventures in 60 regional commercial areas.
  • Initiatives include training, commercial revitalization support, and integrated promotion, aiming to boost the competitiveness of local economies and support young business owners' settlement.

The Small and Medium Business Corporation (SBC) and Hana Financial Group have joined forces to bolster young entrepreneurs through a new ESG (Environmental, Social, and Governance) business agreement. This partnership aims to inject vitality into regional commercial districts facing challenges from an aging merchant population and evolving consumer habits.

Over the next four years, until 2029, the initiative will focus on nurturing around 4,000 small business ventures across 60 different regional commercial areas nationwide. The collaboration will encompass comprehensive support, including capacity-building education for small business owners, revitalization efforts for commercial districts, and integrated promotional campaigns designed to enhance their visibility and appeal.

Hana Financial Group has committed to establishing a 5 billion won cooperation fund starting in 2026. This fund will support various commercial revitalization programs. Additionally, the group will provide tailored, practical training, both online and offline, to help young entrepreneurs establish themselves in their chosen regions. A key component involves supporting young entrepreneurs, organized in teams, to directly plan and execute community-based business projects that align with the unique characteristics of their local commercial areas.

The SBC will oversee the management of implementing agencies and provide operational support to ensure the projects yield tangible results. Their role includes managing the entire process from discovering support projects to supervising their execution and offering institutional backing. The SBC plans to enhance the effectiveness of these new initiatives by integrating them with existing policy programs, such as those supporting regional commercial growth, cultural tourism markets, and local businesses, while carefully avoiding duplication of efforts.

We will actively support the corporation's expertise and management capabilities so that Hana Financial Group's private resources can lead to regional commercial revitalization.

— In Tae-yeonSBC President In Tae-yeon on the partnership's goals.
DistantNews Editorial

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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