On the 6th, at the Jeonbuk Creative Economy Innovation Center, the opening ceremony for the ‘Global Startup Immigration Center’ took place. Kim Jong-hoon, Jeonbuk Province’s Deputy Governor for Economic Affairs (fifth from the left in the front row), and other attendees are seen cheering. Provided by Jeonbuk Province.
For the first time outside the capital region, a Global Startup Immigration Center has opened in Jeonbuk, aiming to cultivate a global startup ecosystem. This initiative is intended to support the domestic startup efforts of foreign residents and international students living in Jeonbuk.
Jeonbuk Province announced on the 9th that they have launched operations at the ‘Global Startup Immigration Center’ located in Jeonbuk Creative Economy Innovation Center in Wansan-dong, Deokjin-gu, Jeonju, to aid the settlement of foreigners aspiring to start businesses in South Korea.
The Global Startup Immigration Center is a specialized institution that assists with obtaining startup visas (D-8-4) for foreigners through the ‘OASIS’ program, a crucial requirement for the acquisition of these visas. It provides assistance in intellectual property acquisition, entrepreneurship training, startup guidance and mentoring, business incubation, visa acquisition, and the establishment of corporations.
As of 2022, the number of international students in Jeonbuk stands at 9,502, ranking it fifth among 17 Korean cities and provinces. It has been reported that some of these students have gone to the capital region to participate in the startup immigration talent development program and have settled there.
Until now, foreigners preparing to start businesses in the region found it difficult to get help, but with the center opening in Jeonbuk, some of these inconveniences have been alleviated. Nationwide, there are only six centers, all located in Seoul and Gyeonggi Province.
Previously, Jeonbuk Province signed an MOU with the Ministry of Justice concerning foreign entrepreneurship policy pilot projects to secure the Global Startup Immigration Center, and they have continuously promoted the initiative by incorporating a clause in the Jeonbuk Special Act to support outstanding foreign startup companies. In the future, the province plans to actively attract international startups through the Ministry of SMEs and Startups’ ‘K-Startup Grand Challenge’ follow-up support project and to build a global startup network centered in Jeonju.
Kim Jong-hoon, the Deputy Governor for Economic Affairs in Jeonbuk Province, stated, “We anticipate that the Global Startup Immigration Center will provide an innovative environment for foreign entrepreneurs and become an important stepping stone for Jeonbuk to grow into a global startup hub.”