A Steppingstone to Business Growth! ‘Grow together with Incheon Airport’

Incheon Airport operates various kinds of social contribution activities to create a society where we are all well-off together.

Among them, the ‘Grow together with Incheon Airport’ Campaign which aims to promote *social economic organizations with the returned rent income achieved from the arrivals duty-free shops, is a campaign that supports the growth of organizations that contribute to resolving social problems and also helps achieve sustainable management growth.

It is an organization that proceeds economic activities based on mutual cooperation with social enterprises, cooperatives, non-profit organizations, to create mutual benefits and enhance social values.

In May 2019, Incheon Airport was able to raise a supporting fund for growth through campaigns. In January of this year, Incheon Airport has selected 25 remarkable social economic organizations that create social values and has held an opening ceremony.

Social economic organizations participating in the ‘Grow together with Incheon Airport’ have been selected for two sectors: ‘Overseas market entrance assistance,’ and ‘Financial assistance to remarkable companies.’ Let’s find out which companies will go together with Incheon Airport!

Supporting Success Overseas! ‘Overseas Market Entrance Assistance’

First of all, overseas market entrance assistance has been arranged in order to promote exports of social economic organizations to strengthen global competitiveness, which will lead to the extension of social values.

For the overseas market entrance assistance, a contest was held for social economic organizations that have been incorporated for more than 3 years and anticipate overseas expansion or are already expanding abroad. 12 companies were selected in this sector, composed of companies selling bags and accessories, character figures, eco-friendly uniforms, safety helmets for disasters, women’s hygiene products, and so on.

Incheon Airport will be very supportive to companies that expand their business to overseas markets, and business development expenditures will be provided for a total of 10 months to promote their entrance to overseas markets.

This is not only limited to financial assistance, but it also includes overall business consulting and basic training upon exports will be provided. There will be a one-stop support upon building networks with export professionals, field investigation support, and online and offline market entrance assistance, so participating companies can be well prepared!

‘Financial Assistance to Remarkable Companies’ to Scale-up

The financial assistance to remarkable companies is designed to help social economic organizations with remarkable growth engines during their growth phase.

Likewise, the selection of financial assistance to remarkable companies was based on the social economic organizations that have been incorporated for more than 3 years (closing date basis). And 13 finalists have been selected as part of the financial assistance to remarkable companies, including companies of traveling service, art and cultural performances, improvement of residential environment business, recycling consulting, and so on.

Companies selected in this sector will be provided with financial assistance and furthermore will be given a growth assistance for strengthening business capabilities.

This is not only limited to business loans, but it also provides 1:1 business consulting, workshops for performance management, and networking with investment institutions. Especially for companies that have faithfully completed the repayment before overpassing the accumulated overdue date of 30 days, 10% incentives will be provided, so participating companies will be able to have a reliable accompany.

If we take a look at the selected companies of the ‘Grow Together with Incheon Airport’ business, their location varies from Seoul to Gyeongsangnam-do, Jeollabuk-do, and so on. Incheon Airport prioritized regional arrangements in order to allow the growth of social economic organizations to promote the regional economy and enhance job creation. A very meaningful purpose, isn’t it?

Incheon Airport will select companies in various fields such as traveling, culture, art, manufacture, etc., so that it will be able to develop cooperative projects connected to the airport’s services. We will embrace and lead the accompanied growth of public corporations along with social economic organizations.

Incheon Airport plans to promote up to 200 social economic organizations by 2022, which aims to create a partnership growth ecosystem that may tackle social issues. Please look forward to the accompanied progress of Incheon Airport and various social companies!

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