Seoul Entrepreneur Housing Support Project Guideline 2020

1. Project Overview

◦ Eligibility: Entrepreneurs or workers (referred to as “Entrepreneurs”)

- Entrepreneurs: Any entrepreneurs who have a business in new growth industries including artificial intelligence (AI), biotech, and fintech/excluding preliminary entrepreneurs.

∙ Start-ups located in Seoul within 7 business years (business registration certificate) and entrepreneurs residing in Seoul (resident registration or alien registration)

∙ The principle of supporting one person per start-up may apply in principle and only one person may apply even if two or more co-representatives are present.

∙ New growth industries → [Appendix 1] The start-up must fall under one of the technology start-up industries

- Workers: Workers may only apply when representatives and employees at initial start-ups within 3 business years move into a share-house as a team (≤4 persons including representatives).

· If start-ups within 3 years apply to a share house as a team, you will have the priority to move in.

◦ Size of support: 236 people ― 60 rooms in share-houses (60 people) and residential vouchers for the remaining 176 people

◦ Period of support: August 1, 2020–August 31, 2021 (up to 1 year)

- Up to a year of support for one entrepreneur

- Even though length of period is less than 1 year, all the living expenses support will be terminated on August 31, 2021.

· A month before subsidy expiration, you must submit a report of your business result with proved documents. If you don’t submit it, you cannot receive the final 1 month.

◦ Types and methods of support

- Share-houses: to be leased in advance under the name of the Seoul Metropolitan Government → Entrepreneurs pay 50% of the actual rent

- Residential Vouchers: Offer 50% cash subsidy of the monthly rent (maximum ₩1 million KRW per person each month, ₩12 million KRW whole year)

◦ Items excluded from support: Housing expenses other than rent must be borne by the applicant

- Brokerage fees, Management fees, Moving expenses, and Utility bills are not included to the support.

◦ Reasons for suspension

- When a start-up closes or ceases business or where the place of business moves out of Seoul

- When an entrepreneur receiving support moves residence to out of Seoul

- When the results of investment attraction are falsified after move-in.

If three years have not elapsed for a person who had completed the execution of imprisonment or a higher-level penalty, has had remission of execution due to causes including sexual crimes or intake of prohibited drugs, or if a person is under supervision by financial institutions due to default, bankruptcy, or the person is a delinquent national or local taxpayer.

- Share-house residents: Share-house residents who have not complied with the rules or failed to pay their rent. If the CEO leaves the share house, team members also have to move out.

- Voucher residents: If you cannot fill out the contract with the residential voucher service providers or you invite more people except family members.

· If the suspension of application is decided, the share house moving out and expenses will be retroactively paid within 1 week.

2. Recommendation by Organizations

◦ Recommended period: July 1, 2020, on/open annually

◦ Recommended organizations: Accelerators or venture capitalists who have a partnership with the Seoul Metropolitan Government

- 25 start-up support facilities (commissioned organizations) in Seoul: Seoul blockchain center, Youth startup center. (Refer to the list [Attachment 2])

- Seoul Start-up Hub Partners (Gong-duk, Seong-su): 76 companies

Recommendation Criteria

- Determining the eligibility of applicants for support as entrepreneurs, experts, and workers

- Start-ups who have investment, achieved sales records, and excellent business items

· Investment attraction refers to acquiring investments related to the start-up (angel investments, series investments, etc.) from accelerators or venture capitalists.(Government supports are excluded)

◦ Documents to be submitted

- Letters of recommendation: The recommender describes the basic information and reasons for their recommendation of the recommendee (use [Attachment 3])

- Application form

∙ Describes the recommendee’s (resident’s) intended housing type and business plan (refer to [Attachment 4])

· The application form must be less than 6 pages

∙ Consent to the collection, use, and provision of personal information

∙ A certified copy of the resident registration (Certificate of Alien Registration, Certificate of Domestic Residence Report, or Application for Residence Permit)

∙ Certificate of Business Registration

∙ A Written oath

∙ Other Evidentiary Materials

· Any applicant who has prepared all the required documents and submitted them may be subject to the deliberations of the Final Selection Committee.

◦ Confirmation of exclusion reasons: bankruptcy, national and local tax arrears

- Entrepreneurs residing in Korea: Applicants must confirm their identity and submit supporting documents randomly selected and contacted in the selected order to confirm their participation.

- Entrepreneurs who do not reside in Korea: Confirm and submit Apostille (or translation/notarization) through the consulate in the country of residence

◦ How to apply: Send application documents via email (rent@sba.seoul.kr)

· If you don’t receive a confirmation letter of your application after you apply, please contact to Invest Seoul Center(02-6361-4124).

· In principle, the applicant should apply for support. However, the recommended organization also can send an application by email.

· You may apply until September 9th (Wednesday). You can modify the application until September 11th (Friday). In that way, the committee can evaluate the application thoroughly. The application submitted after 9 September will be evaluated in October.

3. Entrepreneur Selection Committee ※ Initial holding date: September 15, 2020

◦ Composition: After selecting 15 organizations among the recommendation organizations, 7 organizations are finalized (changed in every selection)

- In the presence of the team leader in charge at the Investment Entrepreneurship Division, candidates are randomly selected, and contacted in the selected order to confirm its participation.

- Member of the Selection Committee must be the executive level of the recommender, and the member who recommends the recommendee must be excluded from evaluation.

◦ Functions

- Selection of candidates for support: Evaluation of (1st rank) investment attraction performance, (2nd rank) sales performance, (3rd rank) success potential.

- You can still apply even though you do not have sales records, but in this case, you will be selected by the possibility of success in your business.

- If your business is established less than 3 years: evaluated through Investment attraction performance, the possibility of success in business

- Selection ratio between initial startups, and non-initial startups: if you apply a lot, you will have a higher chance to get selected.

* Non-initial startups: Established less than 7 years but more than 3 years.

※ The ratio of candidates may be adjusted to avoid 70% or more of either domestic and foreign members as the targets of support.

◦ Selection of pre-selected applicants

- When applicants leave the share house or get suspended from support, we will select 20%from pre-selected applicants (share house 10%, housing voucher 20%)

- But, pre-selected applicants must agree with the terms to be considered in a later time

4. Final selection and preparation for housing support

◦ The results will be notified to both the applicant and recommender.

◦ The list will be handed over to share-house and residential voucher service providers.

◦ Service provider will contact directly to applicants individually

5. Use of Share-houses

◦ Service provider: Libeto Korea – Commontown

- Contact for entrepreneurs: 010-9679-9775

- Common Town contact: 02-3444-3335

◦ Places of residence: Three locations including Yeoksam-dong (Treehouse), Itaewon-dong (Itaewon 512), and Huam-dong (Central 261)

Building name/number of rooms/location

Monthly rent (borne by residents)

Utility expenses (Individual, monthly)

Repair Deposit

Cleaning fee for moving-out

Room Type

Transportation

Treehouse

(30 rooms)

33, Dogok-ro 23-gil, Gangnam-gu, Seoul

₩620,000–645,000

₩75,000

₩2 million

₩150,000

(with pet)

₩70,000 (without pet)

for 1 person

Ten-minute walk from Yeoksam Station (Line 2)

Itaewon 512

(14 rooms)

38, Noksapyeong-daero 40na-gil, Yongsan-gu, Seoul

₩250,000–680,000

₩60,000

₩1 million

₩100,000

For 1–4 people

Five-minute walk from Noksapyeong Station (Line 6); 10-minute walk from Itaewon Station

Central 261

(16 rooms)

5, Sowol-ro 2-gil, Yongsan-gu, Seoul

₩190,000–270,000

₩50,000

₩1 million

₩100,000

For 1 person

Ten-minute walk from Seoul Station (Line 1)

◦ Rent, etc.: Monthly rent (50%) and management fees are paid to service providers

- Deposit: Paid in advance by the City of Seoul to the service provider (no burden by entrepreneurs)

- Facility damage deposit: Deposit for damage to properties such as shared facilities, actual cost settlement, and refund upon leaving.

- Rent: Paid in advance by the City of Seoul to the service provider → Entrepreneur pays 50% to the service provider → Post-settlement

- Utility expenses: Entrepreneurs pay the service provider

- Cleaning fee: fees are charged by resident / Yeoksam-dong: ₩150,000 with pet, ₩70,000 without pet / Itaewon, Huam-dong: ₩100,000

◦ Available services

- Rent included: private residential space, shared spaces (work, laundry, lounge, and kitchen), and networking service

- Complimentary services: public space cleaning (twice a week), Wi-Fi, public water purifier, public space TV, and door lock

- Paid services: personal space cleaning, bed linen laundry, shared car service, luggage storage, etc.

· Detailed costs are based on the share-house operator's standards

◦ Share-house Usage Procedures

- ① Investigation of housing demand: workplace, intended residence area, expected rent, multi-room availability, etc.

- ② Allocation of share-house: Idle space is allocated to reflect the demands of entrepreneurs

※ If there are massive registration in one specific share-house or typical room type, we will give priority to the one who applied first. (Based on completion of required documents)

- ③ Move-in: Moving costs are borne by each resident

- ④ Use and eviction: Necessary to comply with the service provider's internal operating standards

6. Residential Voucher

◦ Execution agencies: Co-managed by Seoul Metropolitan Government (Investment Entrepreneurship Division) and Seoul Business Agency (Invest Seoul Center)

- Domestic entrepreneurs: Investment Entrepreneurship Division of Seoul Metropolitan Government

- Foreign entrepreneurs: Invest Seoul Center of Seoul Business Agency

· It does not matter to invite your family member, but you can only invite 1 person who is not your family.

· If you invite more than 1 person who is not your family member in your house your support will be ended shortly

◦ Service providers: GlobalSeoul Real Estate Co., Ltd./Global Real Estate Association of Seoul

◦ Rent: After the entrepreneur has paid the rent, 50% is then paid by the service provider

- After the service provider has confirmed the terms and conditions including rent and rental period, monthly residence, and the payment of the rent

· Required to submit a lease contract and proof of monthly rent payment (Transfer history from the tenant (under their own name) → landlord (under their own name))

- Monthly cost settlement between Seoul Metropolitan Government and service providers

◦ Available services

- If there is no place of residence, the service provider will search property and support contracts (brokerage fee borne by the applicant)

◦ Residential Vouchers Usage Procedures

- ① Property search and lease contract support: If there is no place of residence, the service provider will assist or the existing lease contract will be confirmed (including rent fee and rental period)

- ② Management contract with service provider: Empowerment to service provider to check the rent and substitute payment

· The management contract is signed between the service provider and entrepreneur.

- ③ Monthly rent settlement: Required to provide supporting documents for lease contract conditions and actual residence, proof of rent payment

- ④ Moving-out: Termination of management contract with service provider

7. Countermeasures against the Occurrence of Problems such as Illegal Move-in

◦ The entrepreneur's housing support will be suspended and the recommender`s recommendation rights will be limited for 3 years.

◦ Criteria for illegal move-in

- In the case of a social disturbance or criminal conviction to misdemeanors after the move in date

- In the case of a false recommendation despite reasons for disqualification including previous convictions

8. Person in Charge

◦ Investment Entrepreneurship Division of Seoul Metropolitan Government: Hong, Hyunju, Assistant deputy director (2133-4768)

- General management of entrepreneurs' housing support project (excluding residential vouchers for foreigners) and operation of Entrepreneur Selection Committee

◦ Seoul Business Agency (Invest Seoul Center): Shin, Sumin, Manager (6361-4124)

- Receipt of letters of recommendation for entrepreneurs, operation of residential vouchers for foreigners

Attachment 1

Industries that can support entrepreneurs' housing (Technology Start-up Industries)

Manufacturing sector (25 mid-class categories)

Knowledge-intensive service sector (15 mid-class categories)

Large Category

Medium Category

Industry

Large Category

Medium Category

Industry

manufacturing

(C)

(C) 10

Grocery manufacturing business

Information and telecommunications

(J)

(J) 58

Publishing business

(C) 11

Beverage manufacturing business

(J) 59

Video and audio recording production and distribution business

(C) 12

Tabaco manufacturing business

(J) 60

Broadcasting business

(C) 13

Textile product manufacturing industry excluding clothing

(J) 61

Postal and telecommunications business

(C) 14

Clothing, clothing accessories, and fur product manufacturing business

(J) 62

Computer programming, system integration and management business

(C) 15

Leather, bag, and footwear manufacturing business

(J) 63

Information service business

(C) 16

Wood and wooden product manufacturing business excluding furniture

Advanced science and technology, and technical service business (M)

(M) 70

Research and business

(C) 17

Pulp, paper, and paper product manufacturing business

(M) 71

Professional service

(C) 18

Printing and recording media reproduction business

(M) 72

Construction technology, engineering, and other science and technology services

(C) 19

Coke, briquettes and petroleum refinery manufacturing

(M) 73

Other professional, scientific, and technical services

(C) 20

Chemical and chemical product manufacturing; excluding drugs

Business facilities management, business support and rental service business (N)

(N) 75

Business support service

(C) 21

Medical substance and pharmaceutical manufacturing business

(C) 22

Rubber and plastic product manufacturing and education service business

Education service business (P)

(P) 85

Education service

(C) 23

Non-metallic mineral product manufacturing business

Health and Social Welfare Service (Q)

(Q) 86

Healthcare business

(C) 24

Primary metal manufacturing business

(C) 25

Metalworking products manufacturing business excluding machinery and furniture

(Q) 87

Social welfare service

(C) 26

Electronic component, computer, image, audio and communication equipment manufacturing

Arts, sports, and leisure-related service business

(R)

(R) 90

Creative, artistic and leisure-related service business

(C) 27

Medical, precision, and optical instrument and watch manufacturing

(C) 28

Electric equipment manufacturing

(C) 29

Other machinery and equipment manufacturing

(C) 30

Automobile and trailer manufacturing

(C) 31

Other transportation equipment manufacturing business

(C) 32

Furniture manufacturing

(C) 33

Other product manufacturing

(C) 34

Industrial machinery and equipment repair business

Attachment 2

Start-up Support Facilities (commissioned organizations) in Seoul

(the recommenders)

The name of Facility

address

서울창업허브 공덕

Seoul Startup Hub Gongdeok

서울특별시 마포구 백범로31길 21

21 Baekbeom-ro 31-gil, Mapo-gu, Seoul

서울창업허브 성수

Seoul Startup Hub Seongsu

서울특별시 성동구 성수이로22길 37(성수동2가 77-43) 성수IT종합센터

37, Seongsui-ro 22-gil, Seongdong-gu, Seoul

서울창업성장센터

서울특별시 성북구 화랑로14길 5

5, Hwarang-ro 14-gil, Seongbuk-gu, Seoul

인베스트서울센터

Invest Seoul Center

서울특별시 종로구 종로 38

38, Jong-ro, Jongno-gu, Seoul

서울바이오허브

Seoul BioHub

서울특별시 동대문구 회기로 117-3

117-3, Hoegi-ro, Dongdaemun-gu, Seoul

AI양재허브

AI YangjaeHub

서울특별시 서초구 태봉로 114, 한국교원단체총연합회 1∙5∙6∙8층

1∙5∙6∙8FL, 114, Taebong-ro, Seocho-gu, Seoul

소셜벤처허브

Social Venture Hub

서울특별시 강남구 선릉로93길 40(역삼동 704-45), 나라키움 역삼A빌딩 3~4층

3~4FL, 40, Seolleung-ro 93-gil, Gangnam-gu, Seoul

서울창업디딤터

Seoul Startup Didimteo

서울특별시 노원구 동일로174길 27

27, Dongil-ro 174-gil, Nowon-gu, Seoul

청년창업꿈터

서울특별시 서대문구 연세로2다길 11-3

11-3, Yonsei-ro 2da-gil, Seodaemun-gu, Seoul

서울블록체인지원센터

Seoul Blockchain Center

서울특별시 마포구 마포대로 78, 8층&11층

8, 11FL, 78, Mapo-daero, Mapo-gu, Seoul

서울먹거리창업센터

Seoul Food Tech Startup Center

서울특별시 송파구 양재대로 932 가락몰 1관, 2관 3층

932, Yangjae-daero, Songpa-gu, Seoul

세운 메이커스큐브

서울특별시 종로구 청계천로 159 세운메이커스큐브 세운-서303호

159, Cheonggyecheon-ro, Jongno-gu, Seoul

디자인창업지원센터

서울특별시 마포구 신촌로2길 19

19, Sinchon-ro 2-gil, Mapo-gu, Seoul

서울글로벌창업센터

Seoul Global Startup Center

서울특별시 용산구 청파로 109, 나진전자월드 14동 3층

3FL, 14Dong, 109, Cheongpa-ro, Yongsan-gu, Seoul

서울핀테크랩

Seoul Fintech Lab

서울특별시 영등포구 의사당대로 83 서울특별시여의도 위워크 4, 5, 6, 8층

4, 5, 6, 8FL, 83, Uisadang-daero, Yeongdeungpo-gu, Seoul

게임콘텐츠센터

Seoul Game Contents Center

서울특별시 마포구 매봉산로 31 에스플렉스센터

S-PLEX CENTER, 31, Maebongsan-ro, Mapo-gu, Seoul

서울 파트너스하우스

Seoul Partners House

서울특별시 용산구 한남대로 138 (한남동)

138, Hannam-daero, Yongsan-gu, Seoul

동부여성발전센터

Seoul Eastern Women`s Development Center

서울특별시 광진구 아차산로30길 36 (자양동)

36, Achasan-ro 30-gil, Gwangjin-gu, Seoul

여성창업플라자

Seoul Women`s Startup Plaza

서울특별시 강남구 남부순환로 지하 2814 도곡역사 내 대합실 지하 2,3층

B2, B3FL, 2814, Nambusunhwan-ro, Gangnam-gu, Seoul

서울여성공예센터

(더 아리움)

Seoul Craft Center

(The arium)

서울특별시 노원구 동일로 174길 27

27, Dongil-ro 174-gil, Nowon-gu, Seoul

남부여성발전센터

Seoul Southern Women`s Development Center

서울특별시 금천구 독산로50길 23

23, Doksan-ro 50-gil, Geumcheon-gu, Seoul

북부여성발전센터

Seoul Northern Women`s Development Center

서울특별시 노원구 동일로207길 50 (중계동)

50, Dongil-ro 207-gil, Nowon-gu, Seoul

중부여성발전센터

Seoul Central Womens Development Center

서울특별시 마포구 토정로35길 17

17, Tojeong-ro 35-gil, Mapo-gu, Seoul

창업카페 천호점

Seoul Start-up Café in Cheonho

서울특별시 강동구 천호대로 1057 2층 강동구 청년해냄센터

2FL, 1057, Cheonho-daero, Gangdong-gu, Seoul

창업카페 충무로점

Seoul Start-up Café in Chungmu-ro

서울특별시 중구 퇴계로 265

265, Toegye-ro, Jung-gu, Seoul

Attachment 3

Letter of Recommendation for Entrepreneur Housing Support (prepared by recommender)

1. Basic information of recommender (*Required)

Name (Korean)

Company/Organization Name

Position

Cell

Phone

Email

Basic Information of recommendee

Name (English)

Name (English)

Affiliation/Position

Cell

Phone

Email

Reasons for recommendation

Please describe the reasons for this recommendation including experiences and growth potential of the recommendee

Example) Mr. Smart Kim has the following career

(Affiliation and Position / January 2018–Present)

(Participation in startup support program – program name / March 2017)

(Education: 00 University, 00 Department, Graduated / March 2000–February 2004)

The following achievements have been attained since the establishment:

Investment attraction: ₩1 billion KRW; two patents registered; sales of ₩300 million KRW (2019)

Three patents are under preparation and show great future growth potential; therefore, I am recommending him.

※ The reasons for the recommendation can be described freely within about two pages, including the required information, and a separate sheet can be used if necessary.

※ For any start-up that intends apply for housing support, the company representative must reside in Seoul (based on resident registration) and the company that has been established for less than seven years must be located in Seoul (certificate of business registration)

※ The types of industry that are eligible for housing support are limited to the industry type for technology start-up (Refer to Attachment 1).

※ If 7 years have not elapsed for a person who has completed a term of imprisonment or a higher-level penalty or who had reoffended due to causes such as sexual crimes or the intake of prohibited drugs, or if a person is under supervision by a financial institution due to default, has gone bankrupt, or is a delinquent national or local taxpayer, they must be excluded from eligible applicants. If one of these criteria is discovered after selection, the application will be canceled and the amount received during the period must be returned.

Attachment 4

Application for Entrepreneur Housing Support (prepared by the entrepreneur receiving support)

Please choose your preferred method of support from the two following methods.

* We plan to provide support by considering the selected application method, which may be adjusted depending on the project’s operation.

Share-house

Yeoksam-dong one-person room ()

Itaewon one-person room ( ), two-person room ( ),

three-person room ( ), four-person room ()

Huam-dong one-person room ()

Residential Voucher ( )

1. Basic applicant information

Name (Korean)

Name (English)

(English name of alien registration card and passport)

Nationality

(Nationality before naturalization for naturalized person)

Gender

Male □

Female □

Date of Birth

Affiliation/Position

Contacts in South Korea

Residence address

Phone number

Cell

E-mail

Passport information (Not required for those who submit a Certified Copy of Resident Registration)

Passport number

Visa type

Passport Expiration Date

Visa Expiration Date

Alien registration information (identification card) (Not required for those who submit a Certified Copy of Resident Registration)

Registration number

Issuance date

Expiration Date

Residence Status

Personal career matters

Career matters

Example) (Affiliation and Position / January 2018–Present)

(Participation in startup support program: program name / March 2017)

(Education: 00 University, 00 Department, Graduated / March 2000–February 2004)

2. Company Information

Business name

Business registration number

Date of establishment / place of establishment

Example) July 1, 2018 (established) – Present / Invest Seoul Center, 38 Jongro, Jongno-gu, Seoul

Current company location

Company Awards History

Example) Winner/ second place in the 2019 Foreigner Start-up Competition (August 2019)

Industry (Listed on the certificate of business registration)

Number of employees

Main business detail

Total Investment Attraction (Based on 31 March 2020)

2019 Investment Attraction Amount

Monthly average sales performance

Retained Intellectual property rights

( ) cases

Name of registered intellectual property rights

3. Business Plan Summary

Entrepreneurship Sector

Estimated amount of investment (based on June 30, 2020

Employment plan (based on June 30, 2020)

Business plan summary

Others (including the impact of your business on Seoul’s economic development)

※ All of the above forms must be completed within 6 pages, and all the required documents from 1 to 6 below must be submitted. If you want to recognize your work experiences, investment attraction, sales, and the number of employees, please submit 7~10.

1. Consent to collect, use and store personal information (Form 3)

2. A certified copy of resident registration (Certificate of Alien Registration, Certificate of Domestic Residence Report, or Application for Residence Permit)

3. Certificate of Business Registration

4. Letter of Oath (Form 4)

5. Representative, worker's health insurance acquisition certificate or the list of 4 major insurance subscribers (only foreigners without health insurance can be replaced with a certificate of employment)

6. Evidence of reasons for exclusion: Personal credit information), national/local tax payment certificate (only foreigners who are unable to search for domestic credit information can be replaced with a personal deposit balance certificate

7. Proof of Career: Certificate of Career for the above-described experience

8. Proof of investment attraction: A copy of the bankbook or transaction transfer statement regarding investments or a letter of confirmation of investment if the investment is scheduled

9. Proof of Intellectual Property Rights: Certificate of Intellectual Property Rights

10. 2019 Certificate of Value-added Tax and Supplied Price

11. A copy of the Lease Agreement (Monthly Rent) (*only applicable to those who wish to continue living in the current house)

※ Apostille

1) Apostille countries - Official document ⇒ confirm Apostille at the Apostille issuing agency  - Private documents ⇒ notarized, and confirmed Apostille for notarized documents2) Non-Apostille countries - Official documents & private documents ⇒ translation, notarization ⇒ confirmation by the Korean consulate in issued country

- 1 -

[Form 3]

【Consent to collect, use and store personal information when applying for entrepreneur housing support from the Seoul Metropolitan Government】

Name

Date of Birth

Phone

Address

Cell

E-mail

□ Collection and use of personal information

Collection Items

Purpose of Collection and Use

Period of retention and use

o Applicant information: name, date of birth, gender, address, phone number, cell phone number, e-mail, nationality, entrepreneurship experience and career history

※ For foreigners, information on the alien registration card and passport

o Company information: financial information such as company name, sales, investment attraction, intellectual property rights (number of cases and names), the number of works subject to income tax withholding, amount of exports, number of insured persons in employment insurance, corporate registration number, and business registration information including industry.

Selecting entrepreneurs as eligible and managing performance in the Seoul entrepreneur housing support project

Five years from the application period and support end date

※ Company Information: Information about the company with which the applicant is affiliated

□ Provision of personal information to third parties

Recipient

Collection Items

Purpose of Collection and Use

Period of retention and use

o Seoul Business Agency (joint operators)

o Service providers for entrepreneur housing support project

(Libeto Korea, Global Real Estate Association of Seoul, and the Global Seoul Real Estate Corporation)

o Applicant information: name, date of birth, gender, address, phone number, mobile phone, e-mail, nationality, entrepreneurship experience and career history

※ For foreigners, information on the alien registration card and passport

o Company information: financial information such as company name, sales, and investment attraction, intellectual property rights (number of cases and names), the number of works subject to income tax withholding, amount of exports, number of insured persons in employment insurance, corporate registration number, and business registration information including industry.

Selecting entrepreneurs as eligible and managing performance in the Seoul entrepreneur housing support project

Five years from the application period and support end date

※ You have the right to refuse to consent to the collection, use, and storage of personal information as above. However, if you refuse to consent, you may not be able to receive housing support.

□ Do you agree to the collection, viewing, and use of your personal information as above?

( □ Agree □ Disagree )

MM/DD/2020

Name : (seal or signature)

To the Mayor of Seoul

[Form 4]

Letter of Oath

I have provided all the details of the application form without any falsified facts in connection with the “Entrepreneur Housing Support” Project operated by the Seoul Metropolitan Government. In any case where false facts, crimes, bankruptcy, or tax arrears are found afterward, I will take full responsibility for both legal and economic grounds and take any disadvantages such as excluded eligibility for application and returning whatever amount has already been received.

In addition, I fully understand the facts of each of the following subparagraphs and I pledge to faithfully cooperate in the smooth progress of this Project.

1. In the event where there is any missing or unclear information in the submitted application or where supporting document has not been submitted, the relevant item is deemed unclaimed.

2. I accede to the selection results of support targets by the Seoul Metropolitan Government regarding applicants without objection.

3. I recognize that support will be terminated when the start-up activity ends.

4. I cooperate with the monthly monitoring regarding actual residence and subcontracting in addition to the required submission of performance results.

MM/DD/2020

Pledger : Name (seal or signature)

To the Mayor of Seoul

Attachment 5

The Sharehouses Supported for Start-ups

Attachment 6

1

Frequently Asked Questions about Housing Support for Entrepreneurs

1. Am I eligible to apply even if I live in a different city but my business is in Seoul?

⇨ No, you are not eligible. To be eligible, you have to live in Seoul and your business should be registered in Seoul as well.

⇨ If you are moving to Seoul, s/he must file a move-in notification before applying for housing support.

2. What is a share house?

⇨ A share house is a type of residence whose occupants have their own bedrooms but share common spaces such as a kitchen, living room, and laundry room. In case of “Tree houses” extra shared spaces such as shared library and cinema room (the space to watch the movie) are included.

For more information, contact share house operation office Libeto Korea (010-9679-9775)

3. What are housing vouchers?

⇨ Housing vouchers cover 50% of monthly rent in cash.

For example, if you live in a house with monthly rent of 700,000 won, you will receive 350,000 won per month (support will be terminated by 31 Aug 2021) after you submit a monthly transaction for the rent (you need to be selected as a recipient in order to receive support).

4. Our company is less than 3years old. Therefore we do not have sales records and investment attraction amounts. Is it still eligible to apply?

⇨ Yes. You may apply. The initial startup's sales records won’t be evaluated. Therefore, you can apply without it. So does the investment attraction amount. We will consider the company’s growth potential.

⇨ the initial startups will be competed with initial startups ONLY

5. My company headquarter is not located in Seoul and the other branch is in Seoul. Am I eligible to apply for housing support?

⇨ Yes, you can. Only if the branch address is registered in Seoul.

6. What does “support for up to 1 year” mean specifically?

⇨ It means that you may receive support for up to 1 year, from September 1, 2020 to August 31, 2021. If you start receiving support on September 1, 2020, you will receive a voucher covering 50% of your monthly rent every month until August 31, 2021, or you can choose to live in a share house for one year.

However, if you start receiving support after September 1, 2020, the support period will last less than 1 year, subtracting the number of days between September 1, 2020 and the first day you will receive the support.

For example, if you are selected as a support recipient on September 15, you will receive support only until August 31, 2021.

7. Only with employees can apply for share-house?

⇨ No, employees must apply with CEO.

8. A recommendation must be required? Where should I get the recommendation?

⇨ You must have a recommendation to apply. See Attachment 2 in the Program Guide for the list of institutions that provide recommendations (search startup news on the City of Seoul website (https://news.seoul.go.kr/economy/archives/508290?tr_code=sweb)

9. Can a company (entrepreneur) file the housing support application?

⇨ Yes. And the recommending institution also can submit applicants’ documents via email (rent@sba.seoul.kr).

10. Where can I download the application form?

⇨ Search startup news on the Seoul Metropolitan Government website: https://news.seoul.go.kr/economy/archives/508290?tr_code=sweb

11. Do I need to submit supporting documents regarding the grounds for exclusion (e.g., bankruptcy and delinquency in national or local tax payments)?

⇨ Yes, applicants must submit all such documents to complete their applications. And personal credit information has to be issued by credit-related agencies and banks.

⇨ Foreigners who do not have 공인인증서, you can replace with deposit balance certificate.

12. I will move-out soon. Can I apply for the support?

⇨ If you move in to Seoul you can apply. You just have to send us a lease agreement and certificate of residence for the house you live in.

⇨ However, the support will be discontinued if you move to another city or province.

13. Am I eligible to apply for housing support even though I still want to live in my current residence? Can I receive the past support?

⇨ You are eligible if your current resident registration lists you as a Seoul resident.

⇨ We don’t offer missed period. The support will begin after you are selected as a support recipient (the support will be terminated by August 31, 2021, even if you have not received it for 1 year).

14. How can I know when you will conduct the selection and when can I get the result of selection?

⇨ The selection review will be conducted on August 18, 2020. The selection results will be informed to applications individually (via phone cell).

⇨ Committee evaluation will be held on September 15(Tue), and result will be announced at the end of September.

15. For share house, is it valid only for companies with less than 3 business years?

⇨ While startups older than 3 years are welcome to apply, younger startups that have been established for 3 or fewer years will be given priority.

⇨ In other words, if all 60 rooms in the share houses are filled up employees from younger startups, employees from startups older than 3 years will not be selected.

16. Do I need to file the move-in notification to apply for housing support?

⇨ If you are a registered as Seoul resident, you are eligible to apply without filing the move-in notification.

17. May I visit the share house prior to moving in?

⇨ You can apply for a tour at Libeto Korea after you are selected for support.

18. Can two people occupy a single room in a share house?

⇨ No, it’s impossible. Share house only provide 1 super single size mattress.

19. When do entrepreneurs have to submit performance reports?

⇨ The business performance report should be submitted 1 month prior to moving out of the share house and should include your performance up to two months before moving out.

· If the second report is not submitted, you won’t receive support for the final month.

20. How can I get monthly support if I already paid for whole year of the rental fee?

⇨ Monthly rent will be supported after you are selected for support.

21. Can 1 person rent a 4-person room in the share house and use it as an office?

⇨ Yes. However, that 1 person will have to burden entrepreneurial costs, including 50% of the rent.

22. Is 1 letter of recommendation enough for 1 corporate?

⇨ Yes, only 1 letter of recommendation is necessary.

⇨ However, when representative and team member apply for share house, the recommendation letter must include the owner’s information and team member information. All the applicants need to submit individually.

23. When a company applies as a team is it necessary to apply for a shared flat?

⇨ Company can chose which type they want to rent. 4 people may use a four-bedroom as an office – it’s up to company needs. Note that four-bedroom is equipped with four desks.

24. Is it possible to register a business to a share house?

⇨ You can possibly register business in Yeoksam-dong and Huam-dong share houses.

⇨ However, share houses in Itaewon are residential houses so that you can register a business if the business field can use residential houses. Please more detail you may check with Tax office.

25. Will the voucher be given to the entrepreneur or to the landlord?

⇨ The Seoul Metropolitan Government supporting voucher will be given to the entrepreneur through a service provider. The voucher from SBA will be given from SBA. The vouchers will be offered in Cash through the entrepreneur’s personal account.

26. What is the elected ratio of domestic and international companies, and early startups to established startups?

⇨ One or the other will not exceed 70%.

⇨ Selection criteria have been modified so that the sales numbers of early startups are not evaluated. This is to give a chance for early startups that do not have a high sales record yet.

27. Can a social venture business also eligible to apply?

⇨ Yes. Those social ventures related to technology-based startups, education or social welfare initiatives are usually in this category.

28. Are trading companies eligible to apply?

⇨ No, trading companies are not eligible. However, you may apply if your business license clearly indicates the technology-based industry along with the trading industry.

29. How will housing be assigned if there are high demands for a specific share house or location?

⇨ Housing will be assigned in the order of applications received. (Based on final completion of the required documents)

⇨ In other words, we will give priority to those who submitted earlier to choose both room type and location. Therefore, initial applicants will have higher chances to get what they preferred.

30. When only 1 foreign representative is applying, is it necessary to submit a certificate of 4 major social insurances(4대보험득실확인서).

⇨ If you are not registered, you may submit a business license instead.

31. When only 1 foreign representative is applying, is it necessary to submit a list of 4 major social insurances(4대보험가입자명부)?

⇨ The list of 4 major insurance subscribers is a document to confirm the number of employees employed, so if the employees are not enrolled in the 4 major insurance, the application is considered complete even if they do not submit it.

32. As a Korean, employees need to submit the 4major social insurances(4대보험득실확인서)?

⇨ If you are not applying with employees then you don't have to submit the employees 4 major social insurances.

⇨ The list of 4 major insurance subscribers is a document to confirm the number of employees employed, so if the employees are not enrolled in the 4 major insurance, the application is considered complete even if they do not submit it.

33. Can multiple people from 1 company apply for multiple vouchers?

⇨ Voucher is only eligible for representatives, but the employee can apply for a share houses with representatives.

34. Is it possible to submit only an investment letter to indicate plans to attract investment?

⇨ Yes. This letter should be shown as a letter of commitment in the program guideline.

⇨ However, an investment letter of intent is not equivalent to an actual investment. Therefore, during evaluating your application we will give priority to those who have actual investments. The actual investment amount will be recognized only if documentary evidence, such as a certificate of credit transfer or a copy of a bankbook, is submitted.

⇨ Those who have submitted only an investment letter of intent will also have to submit a proof of investment at a later date. If such a document is intentionally not submitted, support may be terminated anytime.

35. Can I still receive monthly rent support if I have a roommate who is not a family member?

⇨ Housing support will be provided for up to 1 person who is currently living with you.

⇨ Any changes in your roommate situation, such as a roommate moving out, must be reported to the voucher service provider immediately. An increase in the number of roommates that are not family members will result in the voucher support being terminated. In addition, a letter of intent stating that these rules will be observed must be submitted to the voucher service provider.

36. Can an entrepreneur living in Dojeon-sook (a place for people starting a new enterprise) apply?

⇨ No, an entrepreneur living in Dojeon-sook cannot apply. However, those who are interested in moving into a share house may apply.

⇨ In addition, those who live in housing that is being supplied and supported by a public housing authority under the Special Act on Public Housing cannot apply (only“private rental housing” is available for youth housing in neighboring subway areas in Seoul).

※ Public housing authorities include state and local governments, the Korea Land and Housing Corporation (LH), the Seoul Housing & Communities Corporation (SH), and Seoul REITs.

37. What happens if one person ends up living alone in a share house that was originally applied for as a team?

⇨ In this case, support may be terminated. The service provider is required to verify with the landlord at least once a month that the resident is not subleasing. This information will be reported to the Seoul Metropolitan Government and SBA.

38. How do I prove that I have attracted investments if I cannot disclose the written agreement?

⇨ Submit the agreement showing only the name of the representative who is applying for support, the name of the business, and the amount of investment attracted.

39. Are loans from the government, SME ventures, and Credit Guarantee Funds recognized as investments?

⇨ No

⇨ The investment will be recognized only if it granted by FDI, Accelerators and venture capital. (Including angel investment and series investment)

40. Are foreign patents can be recognized?

⇨ Yes, they are recognized. In this case, submit an apostilled copy (if the country does not participate in the Apostille Convention, please translate the document, notarize it, have it confirmed by the South Korean Consulate in the applicable country, and submit it).

1) If the country participates in the Apostille Convention,

- Official documents ⇒ Confirm the Apostille at an Apostille issuing agency in the applicable country.

- Private documents ⇒ Notarize and apostille the document.

2) If the country is a non-Apostille country,

- Official and private documents ⇒ Translation and notarization ⇒ Have the documents confirmed by the South Korean Consulate in the applicable country.