Young entrepreneurs test ideas in Seoul neighborhoods

“Come in, try it out and leave us some feedback.”

At a pop-up store in Ikseon-dong, Jongno District, Seoul, on Oct. 30, prototypes showcasing the ideas of 19 young startup teams caught visitors’ attention. Each team had set up an interactive space to present its products and services, ranging from Korean-style pork cutlets served with green onion kimchi and soybean paste stew to lightweight hiking and camping backpacks made with functional fabrics, artificial intelligence-powered fortune-telling services and art studios. Visitors tried out the offerings, listened to explanations from the entrepreneurs and suggested areas for improvement. About 850 people visited the event that day.

The pop-up store served as a real-world testing ground for a Seoul Metropolitan Government initiative linking youth entrepreneurship with the revitalization of neighborhood commercial districts. A total of 150 teams applied for the fifth edition of the Local Entrepreneur Development Program, known as “Local in Seoul,” this year, with 24 ultimately selected. Since June, the teams have been preparing to launch businesses in four neighborhood commercial districts: Magok Art Street in Gangseo District, Konkuk Youth Street in Gwangjin District, Noryangjin Mannaro in Dongjak District and Gwanghui Road in Jung District.

Launched in 2022, Local in Seoul is designed to help Seoul residents aged 19 to 39 develop brands that reflect the distinctive character of local communities and turn their ideas into actual businesses. The city provides two years of support, including training, consulting and prototype development. Teams selected for additional support can also receive up to 30 million won in business development funding.

One of the products that drew visitors’ attention was a Korean-style meal featuring aged pork cutlets served with green onion kimchi, soybean paste stew and marinated crab. Song Jae-yong, 34, who has worked in the restaurant industry for 12 years, is preparing to launch a business combining pork cutlets with a traditional Korean meal spread. He plans to open his first restaurant in the Konkuk University-Hwayang-dong commercial district in 2027.

“I wanted to create a complete Korean meal in which rice, stew and side dishes complement one another, much like the familiar pork belly meal enjoyed by Koreans,” he said.

“Being able to turn an idea in my head into a prototype and gauge consumer reactions firsthand through this pop-up event has been a tremendous help in preparing to start my business,” he added.

Gil Young-jo, in his 30s, is also putting his prototypes to the test as he prepares to launch an outdoor gear brand with a friend of 20 years.

“After enjoying backpacking together for a long time, we wanted to create products that break away from the uniform designs on the market and reflect our brand’s identity and individuality,” Gil said. “We faced significant initial challenges, including sourcing specialized fabrics and finding manufacturers willing to handle small production runs, but the one-on-one coaching and prototype development support from Local in Seoul helped us create high-quality products.”

“Our goal is to go beyond simply selling products and build a space where customers can spend time and share outdoor experiences, eventually growing into a global brand,” he added.

The city plans to use feedback gathered from visitors to help participating teams refine their products and business models. On Nov. 18, it will hold a Local Demo Day to evaluate the teams’ market validation results, startup preparation progress and future commercialization plans before selecting those eligible for further support.

Park Kyung-hwan, head of the city’s Citizens’ Livelihood and Labor Bureau, said Local in Seoul is a hands-on startup support program that helps transform young entrepreneurs’ passion and ideas into viable business models rooted in local commercial districts.

“Using the real-world market data gathered at the pop-up store, their first practical testing ground, as a valuable asset, we will provide comprehensive funding and consulting support to help aspiring entrepreneurs gain confidence and successfully establish themselves in local commercial districts,” he said.

This article from the Hankook Ilbo, the sister publication of The Korea Times, is translated by a generative AI system and edited by The Korea Times.