Seongdong-gu, Recruiting Companies to Apply for Social Economy Activation Fund Loans

Social Economy Enterprises with High Growth Potential but Marginalized in Financial Markets, Applications Accepted Until July 31
Since 2017, a Total of 46 Companies Supported with Approximately 2.6 Billion KRW, Promoting Social Economy by Realizing Public Value

Seongdong-gu, Seoul (District Mayor Jeong Won-oh) is recruiting companies to participate in the Social Economy Activation Fund loan program throughout July to support the growth of social economy enterprises.

This loan support project is intended to be used for stabilizing the management of social economy enterprises that realize social value in the local community. The total loan amount is 250 million KRW, and after comprehensively assessing the management status and financial structure of each company, loans of up to 50 million KRW per company are available.

Since 2017, Seongdong-gu has utilized the Social Economy Activation Fund to discover social economy enterprises with high growth potential but marginalized in the financial market, and has supported a total of 46 companies with about 2.6 billion KRW in loans at low interest rates to date.

Anyone operating (preliminary) social enterprises, village enterprises, self-sufficiency enterprises, (social) cooperatives, or social ventures within Seongdong-gu can apply, and companies that have signed a business agreement recognizing care labor experience in Seongdong-gu may receive preferential treatment during the review process.

Detailed information on loan applications, repayment methods, etc., can be found on the Seongdong-gu Office website (News section) and the Band Foundation Social Finance Office website. Inquiries can be made to the Seongdong-gu Office Job Policy Division or the Band Foundation Social Finance Office.

Jeong Won-oh, Mayor of Seongdong-gu, said, “Through this loan support, I hope social economy enterprises will grow steadily and create quality jobs, spreading social value. I also hope this will serve as a stepping stone to solve various social issues and improve the quality of life for residents.”