The South Korean government is supporting startups through the KRW 3.71 trillion 2024 Startup Support Program. 99 organizations will participate in the program, with 397 startup support projects.
This year’s total budget is KRW 3.71 trillion, up KRW 51.4 billion (1.4%) from KRW 3.607 trillion the previous year, making it the largest ever.
The Ministry of SMEs and Startups, Ministry of Culture, Sports and Tourism, and the Ministry of Agriculture, Food and Rural Affairs will provide the most funding, followed by Seoul, Gyeonggi, and Gyeongnam.
Support is categorized into eight types including loans· guarantees, commercialization, R&D, Incubating space, global expansion, mentoring· consulting, events·networks, and manpower. The largest budget was allocated for loans and guarantees, and the largest number of projects was for commercialization support.
