On March 21, the Hyundai Motor Group announced its ambitious social contribution plan to support startups and create jobs.

The objective of the plan is to create 500 startups including the creation of new social enterprises, the expansion of social enterprise franchises and new small businesses by 2017.

If successful, it will lead to the creation of 2,500 new jobs.

The budget for the project is 32 billion Korean won.

The ‘H-Ondream Audition’ program for young entrepreneurs will serve as an important window for identifying great startup ideas that will receive a range of support to enable them to develop into concrete business plans.

Young entrepreneurs will also be supported by‘Seocho Creative Hub’ programs.