SOUTH KOREA. Five youth enterprise companies will receive support from Lotte Duty Free’s LDF StarUps scheme, a social contribution project to foster young entrepreneurs and contribute to tourism activities in Jeju.

This is the fourth term of the initiative, which began in 2019. About 70 enterprises submitted entries for support in the current round of LDF StarUps after the recruitment process began in May.

Lotte Duty Free Director of Marketing Lee Sang-jin (left), with representatives from the five enterprises receiving support through LDF StarUps

Lotte Duty Free Shop will provide up to KRW40 million (US$30,000) in business grants to each chosen enterprise. Each will receive one-to-one mentoring and work with the Busan Creative Economy Innovation Center for ten weeks to develop their business ideas.

The enterprises also have access to Lotte Ventures’ start-up incubation program, L-CAMP.

The five enterprises receiving this support are:

  • Remidi, which recycles bedding discarded in hotels to produce pet products such as toys and clothes;
  • Ilowa, which discovers local brands and products in Jeju, promoting them to tourists;
  • Jeju Clean Industry, which recycles unused fruit produce into products such as handwash and sherbet jelly;
  • Kakao Family, which uses carrots produced in Jeju to create caramel-based products;
  • Protein Pigs, which uses offcuts of pork to develop protein diet foods.

Lotte Duty Free Director of Marketing Lee Sang-jin said: “We hope that the StarUps project will help the Jeju community and youth enterprises grow together. Lotte Duty Free will continue to carry out various social contribution activities that can be win-win cooperation in the future.”

Follow The Moodie Davitt Report on Linkedin:


Share this article:

Related Articles