Political Circles

[Exclusive] ‘Tonkatsu, Cosmetics, and Fried Chicken Restaurants’ Opened Using Sports Promotion Fund... ‘Blanket Funding’

55 million won in Support for New Entrepreneurs in Non-Sports Sectors The competition ratio was only 1.4 to 1 Cho Gye-won: "We Need to Broaden Our Options While Ensuring Execution Aligns with Our Objectives"

HEO YUN-SU
2026-10-20 16:15:35
[E-Daily Reporter HEO YUN-SU ] It has been revealed that approximately 22% of the startup support funds under the Korea Sports Promotion Foundation’s “Athletes’ Employment Stability Support Program” were allocated to non-sports sectors. In particular, critics point out that clear criteria are needed, as tens of millions of won per person were provided for startups in non-sports sectors—not for startup education or consulting.
Rep. Cho Gye-won of the Democratic Party of Korea. (Photo = Newsis)

An analysis of the performance data for the Athletes’ Employment Stability Program—submitted by the Korea Sports Promotion Foundation on the 20th to the office of Rep. Cho Gye-won of the Democratic Party of Korea, a member of the National Assembly’s Culture, Sports, and Tourism Committee—revealed that, among the 146 participants whose project names were listed over the past two years, a total of 32 cases were in non-sports fields.

Of these, 15 cases fell under the “Incubation” category—which provides startup grants—while the remaining cases were categorized under “Education” (basic training in startup knowledge) and “Review” (assessment and consulting for existing businesses).

The criteria were unclear regarding the types of businesses supported, ranging from food service ventures—such as △a tonkatsu specialty restaurant, △a delivery-only curry franchise, and △a fried chicken franchise—to small business startups unrelated to sports, including △mist sprays and all-in-one eye & neck creams, △professional wallpaper and flooring installation services, △portable oxygen cans and event planning, and △location trackers for lost pets.

The budget allocated for the startup support program over two years totaled approximately 5.2 billion won. Non-sports entrepreneurs in the “childcare” sector each received a 55 million won startup grant from the Korea Sports Promotion Foundation. While the intention to help athletes—who typically have short careers—transition to a second career is commendable, critics question whether it is appropriate to use the Sports Promotion Fund for startups in fields unrelated to sports, beyond mere career guidance.

It is also questionable whether the program has become competitive through sufficient promotion. In 2025, 37 people applied for the childcare sector, and 27 were selected. As of the 19th of this year, 50 people have applied, and 36 are expected to be selected. Anyone who clears the 1.4-to-1 competition ratio can receive 55 million won in support. Even in the “Inspection” category, where participants receive 13 million won per person, and the “Education” category, where 5 million won is provided, the competition ratios were only 1.1 to 1.2 to 1.

Rep. Cho stated, “While it is important to ensure the financial stability and a wide range of career options for retired or soon-to-be-retired athletes, it is also necessary to carefully review whether the limited Sports Promotion Fund is being used efficiently in accordance with its original purpose.”

He noted, “Basic entrepreneurship training and consulting should be kept flexible to broaden opportunities for career exploration,” but emphasized, “When providing large-scale funding amounting to tens of millions of won, supplementary measures are needed to clearly award bonus points based on relevance to the sports industry, expertise, and the effectiveness of the funds.”

Economy

Corporation

IT·Science

Economy

[Market Insight] Reference Price Halved in Six Months… HANWHA SYSTEMS’ 1.4 Trillion Won Tied to Hanwha Ocean’s Stock Price

HANWHA SYSTEMS(272210)has secured 1.4 trillion won in liquidity by disposing of its remaining stake in Hanwha Ocean(042660) through a Price Return Swap (PRS) arrangement, but some observers point out …
2026-10-20 18:14:02

Corporation

CJ Corp. and Shinsegae Co.,Ltd. Join Forces… Why They’re Making a Bid for the JoongAng Ilbo

Shinsegae Co.,Ltd(004170) CJ Corp.(001040)CJ Group and Shinsegae have joined forces to enter the race to acquire the JoongAng Ilbo. Attention is focused on the reasons behind the decision by these two…
2026-10-20 16:42:37

IT·Science

Huons Co., Ltd. Confirms Intestinal Fibrosis-Inhibiting Effects in Preclinical Trials of New Crohn’s Disease Drug

Huons Co., Ltd.(243070)has confirmed the ability to inhibit intestinal fibrosis in preclinical trials of “HUC1A-626,” a drug candidate for fibrosing Crohn’s disease currently under development. Unlike…
2026-10-20 18:22:02