Chungcheongbuk-do's youth population decreases by 70,000... SK hynix seeks regional solutions through 'Youth Startup Park SPARK'

The youth population in the Chungcheongbuk-do region has decreased by 70,000 over the last 10 years. This population outflow has created a vicious cycle leading to the stagnation of local commercial districts and a shortage of jobs. Amid this crisis of regional extinction, a new model where corporations and local governments join hands to help the entrepreneurship and settlement of young people is drawing attention.

The story shared by SK hynix contains how young entrepreneurs, centered around the 'Youth Startup Park SPARK'—a youth entrepreneurship support space established in Cheongju—grow and connect with the local community to solve regional problems. In cooperation with SK hynix, Cheongju has created various links connecting corporations, partners, and the region, and has laid the foundation for young people to stay and grow in the region through entrepreneurship competitions and space support.

From food waste to disaster safety, business items found in local issues

What entrepreneurs focused on was not grand discourse, but the specific deficiencies of the local community. One entrepreneur focused on the regional characteristic where food waste is generated in large amounts due to the concentration of food factories. Witnessing the problems of food waste leaking during the transportation process and the resulting pest issues, he set a goal to establish a boundary for resource circulation in the 'eating part' among food, clothing, and shelter. He is creating added value by expanding his business beyond simply producing equipment to treat waste, into the consulting field that quantifies carbon emissions and social value caused by waste.

There is also an entrepreneur developing solutions for disaster-vulnerable groups. He started his business to solve the reality where casualties occur due to a lack of means for those with limited mobility to evacuate when a disaster occurs. In particular, during the process of developing an application targeting the senior population, he is refining the product to ensure that technology moves in a direction that alleviates the inconveniences of the actual vulnerable groups by accepting feedback from real users saying, "I cannot see the text."

"Great intentions are achieved by starting in small places"... Affordable living environments and recruitment support

One of the reasons young entrepreneurs choose the region is the realistic survival conditions. Entrepreneurs using the SPARK Entrepreneurs Hall cited the ability to operate offices at a low cost as a major advantage. Combined with additional recruitment support, entrepreneurs gain the momentum to create more value.

One entrepreneur said, "At first, I thought I had to move with only great intentions, but through this process, I realized that great intentions can be achieved by starting in small places." He emphasized that solving the problems of the place where he stands, such as the aging of the local community or the problems of disaster-vulnerable groups, is the first principle of entrepreneurship. These entrepreneurial activities go beyond simple individual profit generation and lead to coexistence with the local community, such as making products with agricultural products grown by village residents or operating idle facilities within the village as cafes.

The 'virtuous cycle' where youth entrepreneurship support leads to local jobs and settlement

The key keyword emphasized by entrepreneurs is 'connection.' They say the core of growth is a structure where entrepreneurs connect themselves, allowing mentoring and coaching to occur. The process of creating a medium so that the solutions completed through subsidies can return as benefits to the actual beneficiaries was also cited as an important task.

This model supported by SK hynix aims for a circular structure where youth entrepreneurship support leads to local job creation, settlement, and further cooperation. Entrepreneurs expect that even if such support is not immediately visible, it will become an important factor leading to changes in the region over time. The process of creating a city where young people can obtain opportunities and live vibrantly is being completed through the support of corporations and the challenges of youth.

Source: original video (YouTube)