[Sponsored Report] Accelerating community growth
H-On Dream Audition
In collaboration with the Chung Mong-Koo Foundation, Hyundai Motor Group hosted the 6th annual H-On Dream Audition, a program that awards social entrepreneurs. Lim Seo-jeong from the Ministry of Employment and Labor, Oh Kwang-seong, the president of Korea Social Enterprise Promotion Agency, Yoo Young-hak, executive director of the Hyundai Motor Chung Mong-koo Foundation and other heads of social organizations were present.
H-On Dream Audition started in 2012 and is the biggest social enterprise nurturing program in Korea. Over the past 6 years, the event has awarded 150 teams 100 million won ($1,360) each, as well as provided entrepreneurship education and consulting.
Marymond, the winner of H-On Dream Audition in 2013, is a social enterprise that produces and sells design-products based on art works of comfort women. It donates 50 percent of its profit to help comfort women. After the company won, its annual sales were about 10 million won. The company has grown explosively and is looking to make 10 billion won this year.
Gift Car Campaign
Hyundai Motor Group’s Gift Car Campaign is a social contribution activity that started in 2010 to provide people in low-income households with vehicles to launch start-ups. It has been well-received by the public and the industry itself, and has delivered a total of 266 cars to those in need.
Cars such as the Porter and Starex from Hyundai Motor, Bongo, Morning, and Ray from Kia Motors are provided to the beneficiaries of the Gift Car Campaign. After organizers review the business plans of various entrepreneurs, they send the most appropriate car to those chosen and provide insurance and tax premiums needed to register the vehicle. Moreover, funds, education and a consulting program valued at 5 million won are also provided to the beneficiary.
People who have benefited from the Gift Car Campaign have seen their monthly income increase 2 to 3 times.
Some have even gone on to earn more than 3 to 4 million won per month, which shows that the campaign is actually providing low-income business owners with financial independence.
Urban regeneration project
Hyundai Motor Group opened the Balsan Youth Village in Gwangju, an urban regeneration project that it worked on for over 2 years, in collaboration with Gwangju’s Seo District Office, the Gwangju Metropolitan City and the social enterprise Public Art Prism.
Urban regeneration projects are businesses that maintain the original features of the neighborhood while enhancing the living conditions in deprived areas. Balsan Youth Village is an example of the urban regeneration project that can be done from public-private cooperation.
Hyundai Motor started by remodeling abandoned houses and built a community space named “Youth Village.” Furthermore, the company created bus stops, maps and signs that contributed to the development of designs and conditions of the neighborhood.
A spokesperson from Gwangju’s Seo District who worked with Hyundai Motors in the development of the Balsan Youth Village said that, “This project successfully rehabilitated the village by giving locals the opportunity to stay in their neighborhood while making physical changes to the environment, which is very different from the common method of forcing residents to leave their houses for renovation.”
BY YEE JAE-EUN [email@example.com]
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