SK opens center to promote start-up entrepreneurs

In a bid to foster more start-ups rooted in Korea, SK Group opened the SK Creative Economy Innovation Center Seoul Campus on Wednesday.

The Myeong-dong center was formerly the SK Happy Creation Supporting Center and operated as a studio for making prototypes, testing mobile apps and hosting lectures. The revamped institute will provide technology and mentoring for future start-up entrepreneurs.

The first project is the realization of start-up ideas from 10 university teams that were selected at a start-up camp in July. The competition was part of a joint project with the government to foster young entrepreneurs in Korea.

The teams will receive guidance to start a business, which will include a space inside the new SK Center. SK Group will also provide the teams with 20 million won ($1,831) each in funding and mentoring sessions. SK Group will send the most competent team abroad, to encourage its overseas expansion.