Osan City Steps Up Efforts to Foster 'Village Enterprises'

Osan City announced on the 11th that it is recruiting business operators for the "2012 Village Enterprise" project to recommend to the Ministry of Public Administration and Security for provision of up to 2 years of financial and administrative support.

Village enterprises are municipal-level businesses where local residents take the lead in utilizing various tangible and intangible community resources to create stable income and job opportunities. Currently, Osan has Jandari Village Community Agricultural Company (manufacturing and selling beef bulgogi) and Neulpeureum Wonderful Rest Laundry operating as village enterprises.

The application period runs through the 18th, and after internal review, enterprises will be recommended to the Ministry of Public Administration and Security. Once confirmed in February, selected enterprises will receive business funding of up to 50 million won in the first year and 30 million won in the second year (subject to reassessment), as well as access to specialized education and consulting.

Village enterprises must have resident investment comprising at least 10% of total business costs, maintain a decision-making structure with direct participation from investing residents, and utilize localized tangible or intangible resources as a condition for designation.

Business applications can be submitted in person or by mail to Osan City's Local Economy Department (370-3695).