- To share win-win business models and the achievements of ten young entrepreneurs related to Jeju specialty and the tourism industry; held online to prevent the spread of the COVID-19 pandemic
Lotte Duty Free (CEO Lee Kap) announced on September 8th that it will hold an online demo day for "Lotte Duty Free Young Entrepreneurs & Local Economy Win-Win Project in Jeju" on the 10th.
"Lotte Duty Free Young Entrepreneurs & Local Economy Win-Win Project" is a corporate social responsibility (CSR) project that seeks to create jobs and revitalize the local economy by fostering young entrepreneurs. It is a 100% donation-type project instead of a for-profit equity investment or loan. Driven by the successful completion of the project in Busan in the first half of last year, Lotte Duty Free carried out its second project in September last year by recruiting young entrepreneurs in Jeju.
The second project is co-hosted by Lotte Duty Free and Lotte Accelerators, organized by the Korea Productivity Center, and sponsored by the Jeju Provincial Government. Ten companies and local young entrepreneurs engaged in the Jeju tourism industry participated in the project. Lotte Duty Free provided one-on-one mentoring for business acceleration, as well as customized training and advisory services, and took part in enhancing the participants’ competitiveness to result in a 347% increase in total sales.
At 2 p.m., September 10th, a demo day will be held online to give young entrepreneurs opportunities to expand their network and attract funds. On this day, Q&A sessions will be conducted through live chat where each company will share business outcomes and introduce their business models in front of investors and potential customers. Lotte Duty Free will be opening LDF Starups, the YouTube channel where the demo day will be held online, on the day of the event.
The event will take place with a minimum number of required staff and participants to comply with the social distancing measures. All participants will enter the venue after filling out the self-inspection form, sanitizing their hands, and checking body temperatures. The indoors will observe strict measures to prevent the spread of the COVID-19 pandemic, such as wearing mask at all times and emptying the middle seats.
Lee Sang-jin, the head of the Lotte Duty Free marketing division, said, “I hope that this coming online demo day will serve as an opportunity for young entrepreneurs in Jeju to take on new challenges and earn energy. Lotte Duty Free will continue its various supports to contribute to the sustainable development of the tourism industry and job creation.”