Gangwon Accelerates Economic Growth by Fostering Local Ventures

Gangwon Special Self-Governing Province has embarked on supporting 20 promising startups newly selected for the ‘2025 Gangwon Local Venture Incubation Project,’ aiming to discover hidden gems in the region and foster innovative ideas. This project, in conjunction with the Gangwon Center for Creative Economy & Innovation, serves as a strong partner for companies that create economic value by combining innovative ideas with the region's unique rich nature and culture as their seeds. The ‘Local Venture Incubation Project’ goes beyond simple financial support. It focuses on providing generous assistance, from commercialization funds to customized capacity-building programs for specialized fields, helping entrepreneurs who leverage local characteristics to fully unleash their potential and achieve substantial growth. This project is becoming a crucial channel for reinterpreting Gangwon Province's infinite values with a modern sensibility and introducing them to the market. The newly selected companies fully embody Gangwon Province's diverse charm. Noteworthy among them are Wonju's 'Kaiber,' which breathes new life into discarded coffee grounds, transforming them into eco-friendly products, and Cheorwon's 'Soionjeong,' which presents unique Korean traditional desserts using premium Odae rice. Gangneung's 'Salmeungamja' (Boiled Potato) adds a touch of charm with adorable handicrafts featuring Gangwon agricultural product characters, while Chuncheon's 'Distiller & Brewer' plans to offer a gastronomic experience with traditional liquor embodying local stories. These local ventures, creating new value by adding ingenious ideas to each region's unique resources, are brightening Gangwon Province's future. Launched in 2021, this project has achieved remarkable results over the past four years. It has nurtured a total of 102 companies, generating approximately 35 billion won in sales and creating over 200 jobs, thereby revitalizing the local economy. Celebrating its fifth year, this project sees Gangwon Special Self-Governing Province and the Gangwon Center for Creative Economy & Innovation joining hands to solidify the local startup ecosystem and promote local brands with Gangwon's unique identity to the world. Kim Man-ho, Director-General of the Economic Bureau for Gangwon Special Self-Governing Province, emphasized that this project is "a crucial platform that supports the substantial growth of entrepreneurs who create creative business models based on local resources." He further stated that the province will continue to provide extensive support for economic revitalization and strengthening the startup ecosystem within the province. Through the incubation of local ventures, Gangwon Special Self-Governing Province will inject new dynamism into the local economy and lay the foundation for sustainable growth.