The Ministry of Science, ICT and Future Planning and the Small and Medium Business Administration will hold a contest to discover and foster creative business ideas.
 
Entrepreneurs who are hoping to start their own businesses or who have been in business for less than three years can take part in the contest, which was announced on Monday. People hoping to take part can sign up through May 20th.
 
The contest will award total prize money worth 400 million won. Winners will also be granted access to regional creative economy and innovation centers as well as mentoring from local business incubators.