Jungjin-gong 'Social Value Capability Diagnosis'... "18 Billion Won Support for 113 Companies"

Social Economy Enterprise Policy Funds
Introduction of This Year's Projects by Small and Medium Business Corporation

Panorama of the Small and Medium Business Corporation

[Asia Economy Reporter Kim Daeseop] The Small and Medium Business Corporation announced on the 29th that it has supported 18 billion KRW in policy funds to companies through the newly introduced 'Social Value Competency Diagnosis' this year.

The Social Value Competency Diagnosis was established to respond to the government's social economy revitalization policy and to strengthen the competitiveness of social economy enterprises struggling due to the novel coronavirus infection (COVID-19).

As of this month, 113 social economy enterprises have participated in the Social Value Competency Diagnosis. The Small and Medium Business Corporation provided these companies with policy fund support along with information on a total of 131 policy projects.

The Social Value Competency Diagnosis is a customized corporate diagnosis module for social economy enterprises. The diagnosis types are subdivided according to five types of social economy enterprises (social enterprises, cooperatives, village enterprises, self-support enterprises, social ventures). It consists of specialized diagnostic indicators and 32 solutions for each type.

The Small and Medium Business Corporation analyzes difficulties through the Social Value Competency Diagnosis for social economy enterprises and presents customized solutions for each company. By providing information on policy projects available to social economy enterprises such as funding and marketing, it plans to enhance the effectiveness of linked support.

Additionally, it is promoting the advancement of the diagnosis module to provide solutions for various crisis situations such as disasters and economic fluctuations in the future.

Kim Hakdo, Director of the Small and Medium Business Corporation, said, "We are striving to strengthen competitiveness by expanding the policy fund budget for social economy enterprises to 60 billion KRW this year and newly introducing the Social Value Competency Diagnosis. We will spare no policy support so that social economy enterprises can overcome the COVID-19 crisis and continue to grow."