Nowadays, many university students study hard and build their careers to get stable jobs. However, the notion of a permanent job has disappeared. Many people who have jobs are preparing for their next careers. Because of the recession and unemployment crisis, the number of university students who want to establish their own companies is increasing.
Thanks to this phenomenon, various programs and companies are springing up to help university students. The Chungbuk Times met students who have prepared to establish their own companies. In addition, CBT heard about their campus stories and looked into organizations which support the students` company establishments. -Ed
Support status of the government
 
The government unified various organizations related with supporting business into the Small and Medium Business Administration in February 2011. SMBA secured a six trillion won budget and has concentrated on helping the lower class and university students by supporting a Creating Shop program and promoting venture businesses and technical support.
 An SMBA officer said, "Because many organizations were unified into SMBA, we can support small businesses and students` establishments more systematically and effectively. We are trying to strengthen the competitiveness of small businesses."
 In addition, SMBA decided their 2012 slogan as 'Resolve the youth unemployment crisis'. They are inducing university students to establish their own companies by supporting capital and providing skills. Furthermore, SMBA has provided various education programs for students and successors of family business through the Starting Small Business Center.  
 Three major presidential candidates are also setting 'Supporting Youth Establishment' as their political agenda. The government's support for establishments is expected to rise.
 Chungbuk National University supports students` establishments through the CBNU Industrial Technology Research Park(ITRP). CBNU ITRP received financial aid from the Ministry of Information and Communication, SMBA and the Chungbuk provincial government. CBNU ITRP has established a solid foothold as an IT Specialization Park. In addition, CBNU ITRP supports six million won per one team and provides various educational programs.

CBNU students` thoughts about 'Youth Establishment'
 The number of highly educated people and the youth unemployment rate are increasing. The Korea Economic Research Institute announced that real youth unemployment rate was 26.1%, and the number of unemployed young people reached 1.1 million in 2011. The number of university students who want to avoid job competition and establish their own companies is increasing.
 In the case of 'Youth Establishment 1000 Project', which is supported by Seoul city, 5,560 people applied for this project which plans to promote 1,000 youth entrepreneurs (Age 25~39) in 2011. Among them, 40% were senior class students. Furthermore, the social atmosphere which encourages youth establishments helps the new challenging mood. The Bank Foundation for Young Entrepreneurs lends money to youth entrepreneurs with low interest rates. An SMBA officer said, "Many establishment clubs are organizing in each university. In addition, the number of industrial  establishment clubs is increasing."
 An officer of the Korea Research Institute for Vocational Education and Training said, "Local universities` students have a much stronger will of establishment than prestigious universities` students. A severe unemployment problem makes students become adventurous."
 Kim Yu-jin(Dept. of Child Welfare '09), who is being supported by CBNU ITRP said, "CBNU manages the 'Establishment Support Group' and helps establishment clubs. In addition, CBNU IRTP helps students to reduce mistakes through regular consulting. Moreover, students can meet other universities` students through Establishment Support Group and exchange their information. It is good for students who want to evaluate their own capabilities."
 CBT heard CBNU students` opinions about establishments. Han Hyo-cheol (Dept. of Political Science and International Relations '08) said, "It seems that students try to find other ways because of the increasing unemployment problem. It will be a good alternative for university students." He has a positive thought about students establishments.  However, there were also students who have negative thoughts about students` establishments. Kim Nam-su(Dept. of Economics '08) said, "I saw the news that students tend to establish coffee shops and internet shopping malls. This tendency of students` establishments does not help the national economy, and it is hard to succeed."

Tendency of Youth Establishment 
 
The improvement of the youth establishment environment helps vitalize youth establishment. The application market grew explosively with the increasing rate of the smart phone distribution rate. Low entry barrier markets are growing. These markets do not need huge capital or infrastructure. As a result, the number of novice founders who manage internet shopping malls or develop mobile applications is increasing. In addition, by progressing SNS services, circulation and marketing became easier. Experts also point out that successful young entrepreneurs like Andrew Mason, founder of Groupon, and Mark Zuckerberg, founder of Facebook, stimulate the youths` passion of achievement.
High Probability of Failure... Reform Measures Needed
 The success of university students` establishments is hard. In the 'Youth Establishment 1,000 Project', only 30% of challengers succeed in their business. Other challengers usually give up their establishments or start again in other projects. Experts point out that many people do not usually consider a marketing plan or customer management but just have will. Corruption has also occurred. Some students just want supporting money and do nothing or waste the money. Moreover, some students use support for their careers to get a job. A CBNU student said, "I heard that one student spent all of the 6 million won to buy clothes and held a fashion show. Of course her project failed. "
 Most university students do not give actual results. However, experts insist that the government should actively encourage students` establishments. The employment rate is decreasing. Students` establishments can give vitality to the national economy.
An officer of the Korea Development Institute said, "To enter a knowledge-based economy, Korea should commercialize youth entrepreneurs` ideas."
 What is needed for youth entrepreneurs? They insist that they need mentors who can give advice about business know-how. In addition, experts insist that existing competitive exhibitions should be revised.
 The government has to introduce a new competition system which synthetically estimates the process of how to carry out assignments, the degree of participation, and the role of professors.
Heo Gap-soo (Catholic University of Pusan, School of Business Administration) claimed that the government should support the vitalization of young men's foundations. He said, "We need a new institutional framework. I suggest that they need to break from the existing establishment classes, which are operated shortly during vacation. In addition, I recommend opening a new department which studies about founding businesses. If there is anyone who successfully graduates or receives prizes from competitions outside of school or if they want to receive supporting funds for there establishments, there should be benefits such as bonus grade points."

  Min Kyung-woon kw32@cbnu.ac.kr
  Shin Jae-hyung jh32@cbnu.ac.kr