Busan Port Authority Shares Achievements of 'Busan Economic Revitalization Support Fund'

Nine Public Institutions Join Forces
Driving Growth and Job Creation for Small, Venture, and Social Economy Enterprises

Busan Port Authority (BPA), led by President Song Sangkeun, held the final performance report meeting for the 'Busan Economic Revitalization Support Fund (Busan ESG Fund, BEF)' on December 30, together with nine public institutions in the Busan region.

Busan Port Authority holds a performance sharing meeting for the 'Busan Economic Revitalization Support Fund' and takes a commemorative photo. Photo by Busan Port Authority

The BEF is a fund established through the participation of nine public institutions in the Busan area, including Busan Port Authority, Korea Technology Finance Corporation, Busan Metropolitan Corporation, Korea Housing & Urban Guarantee Corporation, Korea Southern Power, Korea Securities Depository, Korea Asset Management Corporation, Korea Housing Finance Corporation, and Korea Ocean Business Corporation.

Launched in 2018 with the goal of supporting social economy enterprises, the fund has since expanded its support to include small and venture businesses, thereby contributing to the revitalization of the local economy and the spread of ESG management.

This year, a total of 1.17 billion won was contributed to the BEF, bringing the cumulative amount raised and executed since 2018 to 8.68 billion won.

This year, the fund was used to select 34 social economy enterprises and 140 small and venture businesses, supporting projects such as: ▲social performance reward programs ▲social startup development projects ▲overseas expansion support ▲self-reliance support for vulnerable groups ▲ESG support for small businesses ▲startup and venture R&D support ▲overseas market development assistance, among others.

As a result, the sales of participating social economy enterprises increased by approximately 18.6% compared to the previous year, and new investment attraction and export achievements were also realized for small and venture businesses. In addition, a total of 344 new jobs were created, contributing to local job creation.

This year, the fund focused on strengthening the practical competitiveness of small and venture businesses by providing ESG management consulting, supporting eco-friendly facility upgrades, and assisting in overseas market development. The newly created jobs included youth, seniors, people with disabilities, and young adults preparing for self-reliance, further enhancing the fund's social value.

Song Sangkeun, President of Busan Port Authority, stated, "It is very meaningful that the BEF project has contributed to the growth of social economy enterprises and small and venture businesses, as well as job creation," adding, "We will continue to fulfill our responsibilities as a public institution dedicated to the development of the local community."