Home > National > K-campus

Asan Sanghoe program expands to support foreign and multicultural entrepreneurs

Published: 24 Feb. 2025, 17:07

LEE TAE-HEE
[email protected]

A promotional image for the Asan Sanghoe program [THE ASAN NANUM FOUNDATION]

The Asan Nanum Foundation announced Monday it is accepting applications for the Asan Sanghoe program, expanding the program to invite entrepreneurs of foreign nationalities and people from multicultural families.

Asan Sanghoe used to be a program that supported startups founded by North Korean defectors, but the program has been expanded this year to allow foreigners and people from multicultural families to also participate.

Applications are open from Monday to March 24 through the foundation’s website.

Applicants must be part of a preliminary startup or a startup established within the past seven years. The startup representative must either be a North Korean defector, from a multicultural family or a foreign national. Foreign nationals must hold a visa permitting them to establish a startup in Korea.

There will be around 10 teams chosen for the Asan Sanghoe program, receiving 7 million won ($4,900) to use for their business, one-on-one mentoring, business consultations and the opportunity to pitch their startups to potential investors.

Participants who secure investments after completing the program may receive up to 50 million won in additional funding from the foundation. Select teams will also be given the opportunity to participate in the Chung Ju-yung Startup Competition's demo day.

"We will offer opportunities for those with an entrepreneurial spirit to grow into people who can create a better society," said Park Sung-jong, head of the foundation's Social Innovation Team. "We look forward to meeting diverse entrepreneurs eager to pursue their ventures through Asan Sanghoe."

BY LEE TAE-HEE [[email protected]]