The Ministry of SMEs and Startups announced on the 18th that a total of 92,838 people (80,764 in general and technology, and 12,074 in local sectors) ultimately applied for the second round of the "Modu Startup Project," which accepted submissions from August 20th until the previous day.

The ministry explained that this is an increase of about 30,000 applicants compared to the first round of "Modu Startup," which drew 62,944 applicants over 51 days, demonstrating an even hotter enthusiasm for starting a business.

In particular, the proportion of applicants located outside the greater Seoul area accounted for 63.3%, marking an increase of about 10 percentage points from 53.4% in the first round, showing that startup enthusiasm is spreading across various regions.

Entrepreneurial challenges among the younger generation also increased.

Teenagers (15.4%) and those in their 20s (36.4%) made up more than half of all challengers, and the proportion of young adults aged 39 or younger reached 71.8%, rising from 68.0% in the first round.

A total of 19,111 individuals who were eliminated in the first round applied again this time.

Cho Kyung-won, Director General for Startup Policy at the ministry, said, "We will further strengthen our support so that these challenges can lead to actual startups and growth, fostering the next generation of innovative entrepreneurs."
(Photo provided by the Ministry of SMEs and Startups, Yonhap News)