KSD Launches 2nd Financial Support Project for Busan Social Economy Support Fund (BEF)
[Asia Economy Reporter Oh Ju-yeon] The Korea Securities Depository announced on the 2nd that, together with eight public institutions in the Busan area, it is conducting a crowdfunding project from the 20th of last month to the 27th of this month to support 19 social economy enterprises in the Busan region as part of the 3rd financial support project of the Busan Social Economy Fund (BEF).
This funding is the second financial support project this year conducted through BEF to help social economy enterprises in the Busan area, which are struggling due to the novel coronavirus disease (COVID-19), to develop sales channels and expand sales.
The financial support is provided through a matching investment method, where BEF provides additional funds if the social economy enterprises achieve their target sales (funding) amount.
In particular, this funding will include not only social economy enterprises but also small business cooperatives, showcasing 19 distinctive projects such as "Nakdong River Wetland Kayak Plogging," "Anggeum Flower Rice Cake," and "Gijang Local Tour."
Participation in the crowdfunding can be done by accessing Ohmycompany (www.ohmycompany.com), searching for "BEF" in the search bar, or clicking the "Social Enterprise Research Institute" banner. For more details, inquiries can be made to the Social Enterprise Research Institute or the funding platform.
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Meanwhile, the eight public institutions in the Busan area jointly established a fund of 1.04 billion KRW in 2020 and plan to raise 5 billion KRW by 2022. Together with the Social Enterprise Research Institute, which operates BEF on consignment, they plan to actively support the startup and growth of social economy enterprises in the Busan area through financial support, management consulting, growth support education programs such as academies, and support for establishing social cooperatives.
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