UNIST to Help Youth Startups “Go Global”

The official launch ceremony for the Ulsan-based Program of Coexistence Supporters for Youth Startups took place earlier today at the Kyungdong Hall of Main Administration Building at UNIST.

Organized by Korea East West Power Corporation (EWP), the ceremony was attended by several governmental officials, including President Yong Jin Kim of EWP, Mayor Gi-Hyeon Kim of Ulsan, Chairman Choong Yong Ahn of the Korea Commission for Corporate Partnership, President Mooyoung Jung of UNIST, President Chang-Ryong Kim of Ulsan Technopark (UTP), as well as key officers from 36 startups and venture companies.

The program, which is jointly funded by Korea East West Power Corporation, Ulsan Metropolitan City, and small and medium-sized enterprises aims at helping startups and venture firms make profits and go global by combining the competence of the government and private organizations.

The Korea East West Power Corporation plans to contribute three billion won ($2.2 million) by September 2019. This contribution will be used to help the promising startups enter global markets, increase their sales, expand exports, and stimulate the creation of new jobs.

A total of 36 companies were selected to participate in this program. According to Ulsan City, 25 of the 36 companies are prospective export companies, and through this program, they will be cultivated into "Power Silk Road Companies". The remaining 11 companies plan to pursue customized package business for each stage of growth by strengthening their technology capabilities.

Source: UNIST News Centre

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