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Busan City Launches Grant Program to Support Business Development Costs for Social Economy Enterprises

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The Busan Metropolitan City (Mayor Park Heong-joon) announced the launch of the “Business Development Cost Support Program for Social Economy Enterprises,” which aims to alleviate financial difficulties and enhance the independence of social economy enterprises.

Through this program, the city seeks to help these enterprises establish a stable and sustainable revenue model by supporting their development costs, thereby strengthening their foundation for growth.

Social economy enterprises are organizations that engage in economic activities based on solidarity, cooperation, and democratic, autonomous governance. Their purpose is to address social inequality, promote local economic circulation, create quality jobs, and provide social services, ultimately contributing to social cohesion and the public good.

Busan will invest KRW 285 million (KRW 200 million from the city and KRW 85 million from district offices) to support 20 competitive enterprises that promote social value. Each selected enterprise will receive between KRW 10 million and KRW 20 million.

Eligible applicants include:

• ●Certified or preliminary social enterprises

• ●Village enterprises

• ●Social cooperatives

• ●Incorporated self-sufficiency enterprises

Funding is limited to costs directly related to business development, such as:

• ●Technology development

• ●Quality improvement

• ●Prototype production

(Operational expenses, personnel costs, and capital goods are not eligible.)

Final recipients will be selected through a multi-stage process including application review, on-site inspections, and a professional evaluation committee in early June.

■ Program Schedule

Step	Period
Online Application via SEIS Portal	Apr. 21 – May 2
Local Review & On-site Inspection	May 2 – May 23
Final Evaluation Committee	Jun. 2 – Jun. 5
Agreement Signing	By Jun. 13
Grant Disbursement	June (via districts)

The official program announcement is available on the Busan Metropolitan City’s website (www.busan.go.kr/nbgosi), and applications must be submitted online through the Integrated Project Management System on the Social Enterprise Portal (www.seis.or.kr).

For more information, applicants may contact the Busan City Division of SME Support at ☎ 051-888-4764 or the relevant department at each district office.

Kim Bong-cheol, Director of Busan’s Digital Economy Bureau, stated:
“Social economy is not simply about generating profit — it is a vital sector that creates jobs and services for marginalized communities and revitalizes local areas. We will continue to support enterprises that pursue social value to ensure their sustainable operations.”