KT said on Wednesday it signed a memorandum of understanding on July 15 with the Seoul Credit Guarantee Foundation to support the growth of young small merchants.

The agreement is designed to support stable business operations and growth for young entrepreneurs by linking KT’s youth small business win-win programme, Y-iro-un Store, with the Seoul city government and the Seoul Credit Guarantee Foundation’s youth restaurant start-up support programme, Prep Academy.

The two organisations will cooperate in various areas, including branding and marketing, content production and strengthening digital capabilities, to boost the competitiveness of young entrepreneurs’ stores.

The Seoul Credit Guarantee Foundation will identify and nurture outstanding young entrepreneur stores through Prep Academy. KT will support entrepreneurs’ business growth using its Y brand assets and marketing capabilities.

KT will work with Y Artists to develop brand and store designs. Through Y Futurists, it will produce store introduction and review videos. It will also support promotion using Y Box and social networking service channels. It will produce content capturing the growth process from preparation through store opening for young entrepreneurs.

Kang Lee-hwan (강이환), managing director and head of KT’s Customer Service Division, said the cooperation was 추진 to expand practical support so young entrepreneurs can settle into their businesses stably and grow. He said KT will continue to support the growth of young small merchants and spread the value of win-win cooperation by using its various assets and capabilities.