Donation of 30 Million Won to Jeonnam Province for Fostering Social Economy Enterprises
Jeonnam Development Corporation (President Jang Chungmo) signed an agreement for the 'Jeonnam Dundeun ESG Fund' with Jeollanam-do and IBK Industrial Bank, and on the 20th, donated 30 million KRW to Jeollanam-do to foster social economy enterprises.
Jeonnam Development Corporation also announced that it will extend the operation of the 'Jeonnam Dundeun ESG Fund' for another year. This agreement is part of efforts to promote ESG management in the region and actively support the growth of social economy enterprises.
Jeonnam Development Corporation signed an agreement with IBK Industrial Bank on the 21st for the "Jeonnam Dundeun ESG Fund." Photo by Jeonnam Development Corporation
The 'Jeonnam Dundeun ESG Fund' uses a 3 billion KRW deposit from Jeonnam Development Corporation to provide low-interest loans (3.42% interest reduction) to ESG management companies and social economy enterprises located in Jeollanam-do, and donates 1% of the deposit interest to Jeollanam-do.
The eligible companies are those located in Jeollanam-do, including ▲ESG management companies ▲social economy enterprises ▲green industry companies. The maximum loan per company is 100 million KRW, and the loan period is one year. Over the past two years, a total of 35 companies have benefited, saving approximately 200 million KRW in financial costs during a high-interest era, providing substantial assistance.
In addition, 1% of the deposit interest generated from fund operations is donated to Jeollanam-do, returning profits to the local community. The donations will be used to discover outstanding companies that create social value and support their self-reliance and qualitative growth, nurturing them as exemplary enterprises.
Jang Chungmo, President of Jeonnam Development Corporation, said, "I am pleased that continuous cooperation with Jeollanam-do and IBK Industrial Bank enables us to pursue mutual prosperity with the local community. I hope this will provide practical help by alleviating the loan interest burden for companies in the province, and as a public institution, we will do our best to create a sustainable Jeonnam."
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