Shinhan Financial Hope Foundation Signs Agreement to Foster Yukwaehan Banran and Social Impact Ecosystem

Building a Platform for Creating a Social Venture Ecosystem at 'SquareBridge: Seoul'

Cho Yong-byeong, Chairman of Shinhan Financial Hope Foundation (right), and Kim Dong-yeon, Chairman of the nonprofit organization Yukwaehan Banran, are posing for a commemorative photo after signing a business agreement to jointly discover social impact companies.

[Asia Economy Reporter Kwangho Lee] Shinhan Financial Hope Foundation announced on the 18th that it has signed a business agreement with the nonprofit organization Yukwaehan Banran to jointly discover social impact enterprises.

Shinhan Financial is working on discovering and nurturing social impact enterprises and creating private funds to foster an ecosystem that generates social value. In 2018, it signed a business agreement with SK Group to create the largest private fund dedicated to social enterprises in Korea, worth 32 billion KRW, to support the innovative growth of social ventures. In February 2019, it also launched the 'Innovation Growth Project,' the first of its kind in the financial sector, to build an ecosystem for innovative growth companies.

Chairman Cho Yong-byeong is personally overseeing the process of separating and supporting short-term achievable areas (Quick Win) and mid- to long-term tasks.

Yukwaehan Banran is a nonprofit organization that discovers 'social impact enterprises' pursuing both social and economic value. It operates various programs such as the Social Impact Forum, Majungil, and Youngrihae Project. Shinhan Financial plans to receive know-how from Yukwaehan Banran to build the 'S2 Bridge: Seoul (Shinhan Square Bridge: Seoul)' social impact platform.

Through an 'incubating program' for scaling up discovered enterprises, 'social venture investment' to support growth engines, and 'job matching employment linkage' connecting promising talents with social venture companies, Shinhan Financial plans to establish 'S2 Bridge: Seoul' as a social impact networking hub.

Chairman Cho said, "We will continue to discover social venture companies with new approaches and innovative thinking and spare no support so that their innovations can change the world."

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