KSD Supports 50 Million KRW in Crowdfunding Matching Investments with 8 Public Institutions in Busan Region

[Asia Economy Reporter Oh Ju-yeon] The Korea Securities Depository announced on the 29th that it has provided 50 million KRW in matching investment funds for crowdfunding in collaboration with eight public institutions in the Busan area.

This support fund was provided to 18 social economy enterprises that achieved their target amounts in the 2nd crowdfunding project of the 'Busan Social Economy Support Fund (BEF)'.

BEF (Busan Embracement Fund for Social Economic Development) is a fund established by eight public institutions in the Busan area to support social economy enterprises in Busan (with a goal of raising 5 billion KRW over five years since 2018), and it is entrusted and operated by the Social Enterprise Research Institute.

The 2nd crowdfunding conducted last November was promoted to support market development and sales expansion for social economy enterprises and small business cooperatives in the Busan area. If participating companies achieved their target sales (funding) amounts, BEF provided additional matching investment funds on top of the target amount.

Eighteen social economy enterprises, including 'Nakdonggang Wetland Kayak Plogging' and 'Anggeum Flower Rice Cake,' achieved their target funding amounts. Through the 1st and 2nd crowdfunding rounds this year, BEF has supported a total of 31 social economy enterprises with a total of 80 million KRW.

Meanwhile, the eight public institutions in the Busan area jointly raised a fund of 1.04 billion KRW in 2020 and plan to raise 5 billion KRW by 2022. They intend to actively support the startup and growth of social economy enterprises in Busan through financial support, management consulting, talent development, growth support education programs, and enterprise discovery and support.

This content was produced with the assistance of AI translation services.