Criticism Mounts Over Budget Reallocation for New Startup Initiative
- The Everyone's Startup initiative is facing criticism over allegations that the project is a rebranded version of existing programs, with 10 billion won spent on promotion.
- Critics have characterized the initiative as label-switching, claiming that the government did not secure new financial resources to launch the project.
- The controversy stems from reports that the funding for the initiative was carved out of existing startup support budgets and reorganized under a new name, rather than being...
The Everyone’s Startup
initiative is facing criticism over allegations that the project is a rebranded version of existing programs, with 10 billion won spent on promotion.
Critics have characterized the initiative as label-switching
, claiming that the government did not secure new financial resources to launch the project.
The controversy stems from reports that the funding for the initiative was carved out of existing startup support budgets and reorganized under a new name, rather than being established as a separate, new financial venture.
Ministry Budgetary Context
This criticism arrives as the Ministry of SMEs and Startups manages its broader financial allocations. On March 31, 2026, the Ministry of SMEs and Startups announced plans to submit a supplementary budget proposal for 2026 to the National Assembly.
The proposed supplementary budget is valued at 1.9374 trillion Korean won.