Enlistment is postponed for start-upsAspiring entrepreneurs in their 20s who have not done their compulsory military service can postpone enlistment by up to two years until they reach 30, the Ministry of Science, ICT and Future Planning announced yesterday.
The Science Ministry and the Military Manpower Administration (MMA) held their sixth Creative Economy Commission meeting and confirmed the support measures for young entrepreneurs.
The ministry is trying to encourage and reward entrepreneurship among people in their 20s.
Some entrepreneurs in their 20s delay establishing start-ups because they are faced with their 21-month compulsory military duty.
Apparently, some young people who established start-ups enroll in graduate schools to delay their military duty even though they don’t want to study.
This adds to the financial burden on the young entrepreneurs, the ministry said.
Starting in March, young people who have started a business, won a national competition for entrepreneurship or were confirmed to be preparing to establish a start-up (according to the Act on Special Measures for the Promotion of Start-up Businesses) will be able to apply for the postponement of their military service.
“Although compulsory military service is an obligation as a Korean national, we have established the postponement of the enlistment period in cooperation with the MMA to support entrepreneurs,” said a ministry spokesman.
By kim jung-yoon [firstname.lastname@example.org]
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