Eight Institutions Join Forces for ESG...
Supporting Social Ventures and Small Businesses with 1.17 Billion Won
Eight public institutions in the Busan region have joined forces to support the social economy as well as small and venture businesses.
The Korea Housing Finance Corporation announced on June 17 that it held a ceremony at the Busan International Finance Center (BIFC) to deliver the 'Busan Economic Revitalization Support Fund (Busan ESG Fund),' awarding a total of 1.17 billion won to social innovation organizations.
Public institutions based in the region, including Korea Technology Finance Corporation, Busan Metropolitan Corporation, Busan Port Authority, Korea Housing & Urban Guarantee Corporation, Korea Southern Power, Korea Securities Depository, Korea Asset Management Corporation, and Korea Ocean Business Corporation, participated in the ceremony.
The delivered funds will be used for programs that generate social value, such as nurturing social startups that address social issues, providing ESG consulting and support for eco-friendly facilities, and offering research and development funding.
The Social Innovation Research Institute and Busan Economic Promotion Agency have been selected as the implementing organizations to operate the projects.
Kim Kyunghwan, President of Korea Housing Finance Corporation, stated, "This fund goes beyond simple sponsorship; it will serve as an ESG-based catalyst for tangible revitalization of the local economy. We will continue to lead the creation of a sustainable regional economic ecosystem through responsible investment and support by public institutions."
The Busan Economic Revitalization Support Fund is a public-private partnership fund jointly established by nine public institutions in the Busan region since 2018. Initially, the fund focused on supporting social economy enterprises, but recently, it has expanded its scope to include small and venture businesses, contributing to the spread of ESG culture and strengthening the foundation of local industries.
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