Hwang Bo Yoon, director of the center (third from left), Kim Jung Ho, chairman of the Yantai Han Chamber of Commerce(fourth from left), and Choi Kwang Woo, senior vice president of the General Association of Korean Residents in China. / Provided by Eunpyeong Startup Support Center

Eunpyeong Entrepreneurship Support Center Bukhansan Valley announced on the 1st that it signed a comprehensive business agreement with the General Association of Korean Residents in China and Yantai Han Chamber of Commerce at the Yantai Sino-Korean Economic and Cultural Exchange Center on the 28th of last month to promote youth entrepreneurship.

Eunpyeong Startup Support Center Bukhansan Valley is operated by Kookmin University's Industry-Academia Cooperation Center on behalf of Eunpyeong-gu.

At the signing ceremony, the Eunpyeong Startup Support Center, the General Association of Korean Residents in China, and the Yantai Han Chamber of Commerce agreed to jointly promote startup spaces for young Korean entrepreneurs to enter the Chinese market, provide information on the Chinese market, advise on complex licensing procedures, and provide network support to connect with partners in China.

In particular, they agreed to provide free startup space and accommodation for young entrepreneurs who want to enter China by using the space and accommodation of the startup support center in Yantai, Shandong Province, China.

The signing ceremony was attended by Hwang Bo Yoon, director of the Eunpyeong Entrepreneurship Support Center, Kim Jung Ho, chairman of the Yantai Korean Chamber of Commerce, Choi Kwang Woo, senior vice president of the General Association of Korean Residents in China, and Park Sang Un, advisor to the General Association of Korean Residents in China.

"To promote Korean youth entrepreneurship in China, we are planning to utilize the Entrepreneurship Training Center in Yantai City, Shandong Province, China, to provide support from experts in the Chinese entrepreneurship market and successful mentors," said Choi Kwang Woo, Senior Vice President of the Chinese Association of Korean Residents in China.

The General Federation of Korean Associations of China is the Chinese headquarters of 76 urban Korean associations in China and is a private, non-profit organization that represents the interests of 800,000 Korean residents in China. It was founded on Dec. 19, 1999, and has 64 urban Korean associations, with special branches in Hong Kong and Macau.

"Understanding the perceptions and cultural differences between Korean and Chinese consumers will be a key to success in entering the Chinese startup market," said Kim Jung Ho, chairman of the Yantai Han Korean Chamber of Commerce. "Above all, direct advice from senior chamber members who have succeeded in the Chinese market will be very helpful."

Hwang Bo Yoon, head of the Eunpyeong Startup Support Center, who spearheaded the agreement, said, "In order to help Eunpyeong's startups and SMEs successfully enter the Chinese market and increase sales, this agreement will be a very important opportunity to use Yantai City as a bridgehead to China." He added, "We expect it to be a beneficial opportunity for young entrepreneurs to enter the Chinese market by using the Korean Youth Entrepreneurship Education Center and accommodation facilities planned by the General Association of Korean Residents in China."

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