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Citi and KOSBI to Provide Greater Development Opportunities for Korea’s Women Entrepreneurs


Seoul – Citibank Korea Inc. (CKI) and the Korea Small Business Institute (KOSBI) launched the second Citi-KOSBI Women’s Entrepreneurship Program at a signing ceremony held yesterday.

The goal of this Citi Foundation-funded initiative is to encourage more Korean women to start their own businesses and raise the profile of women-led SMEs in Korea. In the long-term, the aim is to increase both the number of women in the workplace and their contribution to the national economy.

The first year of the program, launched in 2008, focused on needs assessment analysis and the development of case studies highlighting the success of female-led businesses in Korea. The program featured public forums with discussions on opportunities to enhance business competitiveness, a talent scouting initiative, and the Citi-KOSBI Women Entrepreneur Awards that comprised four categories:

* Dason - honoring entrepreneurial excellence
* Senoco - honoring eco-friendly best practices
* Hanbiron - honoring human resource management best practices
* Dowgene - honoring corporate social responsibility

“We are delighted to partner with KOSBI to provide more development opportunities for female entreprenuers and small business owners in Korea,” CKI CEO Ha Yung-ku said at the 2009 launch event. “We made a great start in 2008 and will extend the reach and impact of our programs this year"

“This is an important program,” Hong-geon Choe, President, KOSBI, said, “and our goals are to encourage more women to start their own businesses as well as provide a foundation and support for sustained growth in the future"

The 2009 program includes three major sub-programs:

The Women’s Entrepreneurship Academy - A new initiative, the Entrepreneurship Academy will provide customized training for female entreprenuers. Targeting new business owners and those without access to education and training, the bi-annual classes will cover leadership, new business development and taxation and legal updates.

The attendees will also have the chance to meet and chat with a number of notable CEOs and managers, including CKI senior executives. CKI employees will also host some classes while others will provide financial management and accounting tips.

Korea Women’s Entrepreneurship Award - Carrying on from the success of the inaugural awards, this program honors the achievements of Korea’s female entrepreneurs. The program also aims to inspire other women to launch their own businesses.

Networking - Domestic and Overseas Women CEOs - This program provides opportunities for female entrepreneurs and small business owners to meet and learn from local and international CEOs based in Korea.


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