Скачать или смотреть Young entrepreneurs get startup support from gov't revitalization program

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Koreans catch on new trends as quickly as they fall out of love with them.
So it's not uncommon to see once thriving and vibrant districts plummet to darkness.
Some of them are given a new lease in life as local governments boost support for young startups.
Lee Unshine examines the revival.
This northwestern corner of Seoul... once known for crowd rocking fashion trends... suffered from a recession for years.


"There weren't many people visiting this part of Seoul, and business was slow. But that was few months ago and now the streets are alive again with a new reputation as the center of fashion and culture filled with young entrepreneurs."

Meet Chun Jun-woo, a designer and small business owner with a distinctive sense of style who runs a women's clothing shop in the area.


"This women's jacket has angles like men's clothing. And the silhouette incorporates very straight lines."

Chun is just starting out, but he's fortunate to be part of a program in the district for young entrepreneurs.
One of the benefits... is free space for a year.


"I heard about the Seodaemun-gu District project for startups last fall and decided to apply. I was preparing to start my own business at the time but if it weren't for the program, I could've only opened an online store. But for a clothing shop, fitting is crucial. Now that I have this space for a year, my clients can come and try the clothes on."

The program is part of the district mayor's ambition to turn the abandoned streets into a haven for startups.
The mayor says he's hoping to give young entrepreneurs... a chance.


"This district used to have all the latest fashion trends, but that hasn't been the case in recent years. I wanted to restore the area's reputation and help young people with startup ideas... by providing them with business space for their first year. In the long run, I want this area to be a home for startups for generations to come."

Now nine startup clothing and accessories shops fill this once vacant corner of the district. Under the program, participants also get free business classes, like this one in accounting...to help young entrepreneurs learn everything they need to know about maintaining an enterprise.

Another urban project -- this one started by a private company -- is helping breathe new life into whole neighborhoods.
This up-and-coming restaurant district has been nicknamed "Passion Island."


"Table's ready for you."

The neighborhood is frequented by foodies who wait in long lines in front of trendy eateries run by passionate young restaurateurs.
Seeing it now, it's hard to believe this part of Yongsan-gu District once held a row of dying publishing factories.
The transformation came about when a local company leased the run-down buildings and turned them into restaurants.
At the same time, they also launched a mentorship program for young people who dream of opening a start-up, but don't have the money or experience just yet.


"We've opened seven restaurants here. Young people who are interested in running their own businesses can apply to join us. They can work full-time via internships and learn everything about running a business. Then they can either open their own place or invest in our company, get more management experience and earn bonuses."

One employee is an aspiring business owner who works as a manager and chef at a pasta eatery.
His experience is a prime example of what the company stands for.

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