April 27, 2024

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[THE INVESTOR] The government will create a center in central Seoul for startups led by young people as part of efforts to boost innovative growth and reduce youth unemployment, the Finance Ministry said on April 16.

The center in Mapo, central Seoul, will house some 300 startups and provide necessary support measures, according to the ministry.

The government has been reviewing an option to provide funds and rental space at affordable rates to create startups and cultural space for youths.

In particular, the government is planning to establish 250 regional “innovation” centers by 2022 so as to support venture startups for youths and guide “innovation-based” growth.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)