Asan foundation initiative supports North Korea-born citizens, foreign entrepreneurs
Published: 05 Mar. 2026, 15:53
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- YOON SEUNG-JIN
- [email protected]
![Winners of the grand prize in each track at last year's Chung Ju-yung Startup Competition Demo Day pose for photos on Oct. 29, 2025, at COEX in Gangnam District, southern Seoul. [ASAN NANUM FOUNDATION]](https://koreaseafood.online/data/photo/2026/03/05/5046eaeb-4f69-4379-b510-b2f060a14013.jpg)
Winners of the grand prize in each track at last year's Chung Ju-yung Startup Competition Demo Day pose for photos on Oct. 29, 2025, at COEX in Gangnam District, southern Seoul. [ASAN NANUM FOUNDATION]
The Asan Nanum Foundation has opened applications for its startup support initiative, Asan Sanghoe, aimed at training and providing support to aspiring entrepreneurs who are North Korea-born citizens, immigrants and foreign nationals.
Eligible applicants include early-stage startup teams that were launched within the last five years or are preparing to launch, with at least two members, including a CEO who is an immigrant, a North Korea-born citizen or a foreign national. Starting this year, the foundation has also eased eligibility requirements to include foreign nationals who are scheduled to obtain a visa that allows them to start a business in Korea, such as the D-8-1 corporate investment visa and the D-8-4 technology startup visa. Applications are open through March 31.
For the upcoming round, Asan Sanghoe plans to select 10 teams and run its incubation program for about seven months. During the program, participating teams will set execution goals, review their progress every two weeks and receive business coaching sessions tailored to each team and its development stage after the first 14 weeks.
The selected teams will also receive up to 8 million won ($5,454) in initial startup funding, as well as special lectures, leadership coaching programs and mentoring.
The three top-performing teams that pass separate evaluations after the program will be given the opportunity to take part in the Chung Ju-yung Startup Competition Demo Day, where they can promote their businesses to investors and other partners. A total of 60 million won in prize money will be awarded to the teams that win the grand prize, excellence prize and merit prize.
Participating teams will also gain access to MARU, the entrepreneurship platform run by the Asan Nanum Foundation, where they can use workspace infrastructure and benefit from partnerships, mentoring and community networking. Through corporate partnerships, teams will also be able to use services essential for early-stage startups, including AI tools, development, recruitment, marketing and employee welfare services, either free of charge or at discounted rates.
Applications can be submitted through the Asan Sanghoe recruitment website until March 31. The final selected teams will be announced on April 20 after document screening and interviews. Detailed guidelines and the full schedule are available on the Asan Sanghoe website and its social media channels. An online information session for prospective applicants will also be held on March 18.
“By further strengthening this year’s Asan Sanghoe incubation program, we aim to help entrepreneurs from diverse backgrounds turn their experiences into competitive strengths and explore new opportunities in the Korean market,” said Park Sung-jong, head of the foundation’s Social Innovation Team.
“We encourage North Korea-born citizens, immigrants and foreign entrepreneurs who want to start businesses in Korea to apply.”
BY YOON SEUNG-JIN [[email protected]]
with the Korea JoongAng Daily
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