“Start a tourism venture.”
KING STUDIO, recognized by Korea's Ministry of Culture & Tourism Venture Program, provides authentic K-Pop recording experiences where visitors create tracks using star-used equipment. Ideal for K-Pop fans seeking unique Seoul adventures.
The 7th Tourism Venture Business Competition is now open for applications until the 22nd.
Organized by the Ministry of Culture, Sports and Tourism and the Ministry of Oceans and Fisheries, and hosted by the Korea Tourism Organization, the Tourism Venture Program has so far created a total of 344 new businesses, 246 startups, and 1079 jobs.
Tourism venture companies selected through the contest are supported to strengthen their business capabilities and tourism contents through various government support programs to grow into global star companies.
Businesses selected in the 'Preliminary Tourism Venture Business' category, which is aimed at budding entrepreneurs and businesses with less than three years of experience, will receive commercialization funds of 30 million won (including 25 percent of their own costs), customized consulting, and public relations and marketing support.
Businesses selected for the Tourism Venture Business category will receive KRW 14 million in promotional marketing funds (including 25% self-funding) and a certificate signed by the Minister of Culture, Sports and Tourism, as well as special financing support for operating funds through the Tourism Promotion and Development Fund, investment attraction, and promotional support for domestic and international sales.
In particular, the marine tourism venture category, which was introduced for the first time this year to discover and foster companies specializing in marine tourism, targets prospective entrepreneurs and businesses with less than seven years of experience.
The Ministry of Oceans and Fisheries will provide 22.5 million won in commercialization funds, while the Ministry of Culture, Sports and Tourism will provide customized consulting and training at the Tourism Venture Academy.
“After being selected as a preliminary tourism venture business last year, it was very easy for us to enter new markets through the startup training, consulting, and participation in overseas fairs provided by the Korea Tourism Organization,” said ROH Kwang Kyun, CEO of MUSICKING, a tourism venture company that operates a K-pop recording experience product. ‘If you prepare a contest for a business model rather than a business model for a contest, you will have good results,’ he advised.
For more information on the Tourism Venture Business Competition, which closes for submissions on March 22, visit the Tourism Venture Business website.
By Soo Jung Ki
