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Startup Cities Expand from 4 to 10: Regionally Led Startup Hubs Spread

PolicyOctober 22, 20261 min read

South Korea's government will add 6 more "startup cities" from its regions outside the Seoul capital area, bringing the total from 4 to 10. Selected cities will get about 60 billion won in direct support over four years.

What happened

The Ministry of SMEs and Startups (SMEs means small and medium-sized businesses) will open a new round of applications for its "Startup City Creation Project" on the 23rd. The project brings together local talent, technology, and money to help startups begin, grow, and settle in each region. Six of the ten non-capital regions will be picked.

Key numbers

Applications: from the 23rd until 3 p.m. on November 30
Final selection: January 2027, 6 cities
Support for each chosen city: about 15 billion won per year (about 11 billion for startup grants, about 4 billion for running the operating agency)
Local money each applicant must raise: 640 million won (400 million for relocation support and 240 million for the angel investment hub)
Current startup cities: Daejeon, Daegu, Gwangju, and Ulsan

Background

This year, the ministry first picked four model cities, all near science institutes. Those cities made their own plans. Since August, they have received money for business development, startup training, testing, and open innovation. The new round is open to 10 regions: Chungbuk, Chungnam, Sejong, Gyeongbuk, Busan, Gyeongnam, Jeonnam, Gangwon, Jeonbuk, and Jeju.

Why it matters

The project aims to help startups grow outside Seoul, so that talent and money are not concentrated in one area. Local governments must show strong plans and bring in universities and research groups. If the plan works, more regions could build their own startup hubs.

What to watch

Which 6 regions apply by November 30
Document review and on-site visits by evaluators at the end of this year
Whether the chosen cities link with programs such as TIPS, the regional growth fund, and the angel investment hub
Results from the first four startup cities

Glossary

TIPS: A Korean government program that helps startups with tech ideas get early funding and support.

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