Gibo "Make Measuring Social Value of Social Venture Companies Easier"

Operation of Self-Measurement Service
Provision of Free Verification Service

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 9th that it will provide a free verification service on the Social Venture Square website, enabling anyone to easily measure social value, following the Ministry of SMEs and Startups' announcement of the 'Social Value Self-Measurement Service' launch. The Social Venture Value Evaluation Center, Kibo's dedicated organization for social venture companies, directly manages the website and also offers verification services for impact reports self-measured by companies.

Social value refers to the value that contributes to public interest and community development across all areas such as society, economy, environment, and culture. Through the newly launched service by Kibo, social venture companies can easily calculate the social value they create in monetary terms and receive the resulting impact report.

The system calculates social value in monetary terms and automatically generates an impact report. If companies wish, they can exchange impact creation performance results among companies through disclosure. If a company wants verification of the self-measured result report, it can submit supporting documents to Kibo and request verification.

Through this service, Kibo provides self-measurement in seven key social areas: ▲income increase for vulnerable groups ▲waste reduction through resource circulation ▲improvement of access to education and training ▲improvement of access to health promotion ▲improvement of access to assistive products and services for the disabled ▲reduction of air and water pollution ▲contribution to carbon neutrality through the spread of renewable energy. The service will be expanded to other areas in the future.

Kim Jong-ho, Chairman of Kibo, said, "There is a global movement to measure social value in monetary units. We hope this self-measurement service will be activated throughout our social venture companies and be usefully applied to future government support policy projects." He added, "Kibo plans to produce and distribute videos and manuals on how to use the service to help social venture companies better understand social value measurement, and we will strive to make it easier for more social venture companies to use."