The city of Gunsan in Korea's Jeollabuk-do province has struggled economically …after GM Korea shut down its assembly plan last year and Hyundai Heavy closed its shipyard in the city.
Instead of one-off support, an urban regeneration project looks to help revive the local economy and create new jobs.
Park Se-young has more.
Gunsan used to be the economic and financial center of Jeollabuk-do Province, …but the shutdown of GM's auto plant in 2018 has prompted people to leave the city and led to a significant slowdown of the local economy.
To promote urban regeneration, SK E&S has established a hub for social ventures.
The project named "Local Rise Gunsan" was designed to transform the city into a cultural and tourist hub... and create new jobs by fostering startups.
By making use of the city's rich local history and his life experience, this 60-year-old man hopes to use the project to become a storytelling tour guide.
"Unlike existing tourist commentaries, I tell of my experiences and feelings vividly and in detail."
These young entrepreneurs are designing a game-type tour of Gunsan by combining game elements with traces of Japanese colonial rules and modernization in Korea.
"This is a project aimed at activating young entrepreneurship to make Gunsan bustling with more people."
The 24 participating teams will receive startup funding of up to 43-thousand U.S. dollars …after a three-month education program.
Instead of simply handing out one-off support, SK E&S hopes to boost the local economy and create new jobs …by transforming Gunsan into one of Korea's leading cultural spots and tourist destinations.
Park Se-young, Arirang News.