The Asia Foundation Supports Women Entrepreneurs in Korea
Seoul, July 16, 2020 — On July 15, The Asia Foundation, with support from Fondation CHANEL, launched phase two of the Accelerate Women’s Entrepreneurship and Economic Opportunities in Korea program. The program aims to support women in South Korea’s Gyeonggi Province to run successful women-owned businesses.
During phase one of the program, which began on February 1, 2018, The Asia Foundation and Gyeonggido Family & Women’s Research Institute conducted an assessment of the challenges and opportunities facing women entrepreneurs in Gyeonggi Province. Based on the findings, the Foundation is launching a tailored support program for women entrepreneurs in Gyeonggi Province, which will specifically focus on access to markets and finances, entrepreneurship training, and the promotion of women’s entrepreneurial culture in Gyeonggi Province.
“Supporting women’s entrepreneurs in Korea helps us advance the inclusion and access agenda, and it allows us to bring new innovations in technology and training to benefit the women in Gyeonggi Province,” remarked Kwang Kim, country representative for The Asia Foundation in Korea.
Working in close coordination with the Gyeonggi Provincial Government and Gyeonggi Job Foundation, phase two will include two primary activities. The Asia Foundation will work with global and Korean partners to develop a fintech platform to provide women entrepreneurs with additional sources of funding, including grants, loans, and equity. Additionally, the project will use an innovative entrepreneurship training approach: personal initiative training. This approach focuses on mindset and behavioral shifts and has been proven particularly effective for groups traditionally excluded in society.
The Asia Foundation is a nonprofit international development organization committed to improving lives across a dynamic and developing Asia. Informed by six decades of experience and deep local expertise, our work across the region addresses five overarching goals—strengthen governance, empower women, expand economic opportunity, increase environmental resilience, and promote international cooperation
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