Kang Seung-woo is the Business Desk editor at The Korea Times. Prior to this position, he covered politics, national affairs, finance and sports.
Jinju aims to promote K-entrepreneurship across Korea and beyond
Jinju Mayor Jo Kyoo-il speaks during an interview with The Korea Times in Jinju, Dec. 5. Courtesy of Jinju City
By Kang Seung-woo
JINJU, South Gyeongsang Province — Jinju, a medium-sized city in the southern part of the country, is gaining attention for its recognition as the birthplace of Korean entrepreneurship.
This reputation is largely rooted in the intriguing fact that a modest elementary school in the city is the alma mater of the founders of Samsung, LG, GS and Hyosung business groups.
Building on this legacy, the city is actively positioning itself as the capital of Korean entrepreneurship. Through initiatives such as the establishment of the Jinju K-Entrepreneurship Center, it is working to promote its entrepreneurial spirit both domestically and internationally.
“As K-entrepreneurship itself is not just a past heritage and rather, it is a value enough to motivate current generations to open up a better future, we believe that its education to the youth is imperative,” Jinju Mayor Jo Kyoo-il said in a recent interview with The Korea Times.
According to the mayor, Jinju K-entrepreneurship embodies the corporate values collectively pursued by the founders of global companies from the city, including Samsung, LG, GS, and Hyosung. These values include patriotism and love for the people, patriotic business practices, humanistic human resource management, and socially responsible corporate profit management.
“Above all, Jinju K-entrepreneurship respects human beings and values community,” he added.
To this end, the city established the Jinju K-Entrepreneurship Center in April 2022 by remodeling Jisu Elementary School in Seungsan Village, an institution once attended by Samsung founder Lee Byung-chul, LG founder Koo In-hwoi, GS co-founder Hur Man-jung, and Hyosung founder Cho Hong-jai, with the school having been relocated.
As of December 2024, some 160,000 people have visited the center, according to Jinju City.
For domestic promotion, the municipal government has published and distributed 500 textbooks on the K-entrepreneurship to elementary and middle schools in Jinju, set to be used this year.
“Our first goal is to extend the textbook to schools in South Gyeongsang Province,” Jo said.
After that, the city plans to spread K-entrepreneurship to other parts of the nation, a process already underway.
In March 2024, Jinju City and the Gyeonggi Province education office reached an agreement to promote entrepreneurship education across elementary, middle and high schools in the nation’s most populous region, aiming to expand its reach.
Given that the founders of major business conglomerates attended the same school in this small town, the city has garnered international attention as well.
Amid growing interest, it hosted a global forum, or the Jinju International Forum on Entrepreneurship, in 2023 and 2024.
The forum’s organizing committee collaborated with high-profile organizations, including the International Council for Small Business, the Caux Round Table and the World Economic Forum to host various sessions.
“We have made efforts to increase the participation of global organizations in the forum,” Jo said, adding the event will return this year.
“When the number of participating organizations from around the world reaches around 10, the promotion of K-entrepreneurship will gain momentum.”
Jinju Mayor Jo Kyoo-il, center, poses with Gregory Hill, left, chief administrative officer of the University of Utah Asia Campus, and Jinju K-Entrepreneurship Foundation Chairman Kim Jong-wook after signing a memorandum of understanding at the Utah Asia Campus in Incheon, Nov. 25, 2024. Courtesy of Jinju City
A recent milestone in this effort is the partnership with the University of Utah Asia Campus, located in Songdo, Incheon. Under a trilateral memorandum of understanding (MOU) involving the Jinju K-Entrepreneurship Foundation, the parties have agreed to establish a collaborative framework aimed at spreading K-entrepreneurship globally.
“We expect the MOU to lay the foundation for students abroad to access K-entrepreneurship,” Jo said.
Amid emerging challenges such as the transition to a digital era, climate change and population decline, the mayor emphasized that K-entrepreneurship should be highlighted as a guiding spirit of the times to address these obstacles and shape a better future.
“I believe in the strength of entrepreneurship. Jinju’s K-entrepreneurship, rooted in human dignity, can serve as a ladder to create new value for the 21st generation and inspire hope for a brighter tomorrow. The global spread of K-entrepreneurship could also invigorate small and medium-sized businesses worldwide,” he added.