Chairman Kim Jong-ho of Kibo listens to challenges faced by social ventures

Measures to Revitalize the Social Venture Ecosystem Reflecting On-site Voices

Kim Jong-ho, Chairman of the Korea Technology Finance Corporation (third from the left), is exchanging opinions on revitalizing the social venture ecosystem with Heo Jae-hyung, CEO of Impact Alliance (third from the right), and Jeon Yu-taek, CEO of Enuma Korea (second from the right).

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Kibo) announced that Chairman Kim Jong-ho visited Enuma Korea, a social venture company located in Seongsu-dong, Seoul, and the related institution Impact Alliance on the 11th to listen to voices from the field.

On this day, Jeon Yu-taek, CEO of Enuma Korea, which develops educational software for children with disabilities or learning difficulties, called for expanded financial support for social venture companies. Heo Jae-hyung, CEO of Impact Alliance, a consultative body of social venture companies and impact investors, expressed the opinion that a system needs to be established to ensure that social outcomes are properly recognized to revitalize the social venture ecosystem.

In response, Chairman Kim explained, "Since 2019, Kibo has been operating as an institution for fostering social ventures, conducting social venture surveys and operating Social Venture Square, a dedicated platform for social ventures, and is actively working to revitalize social ventures through combined support of technology evaluation and guarantees," adding, "We are promoting the establishment of a social outcome measurement system so that the social value created by social venture companies is recognized and can further develop, and based on this, we will strive to build a sustainable social venture ecosystem and revitalize the social economy."

In 2018, Kibo, together with the Ministry of SMEs and Startups, established the Social Venture Value Evaluation Center and set criteria for identifying social ventures to activate social venture companies that simultaneously create social and economic value through innovative technologies or business models. Kibo also introduced and operates the Social Venture Impact Guarantee, a guarantee product dedicated to social ventures. Furthermore, to help social venture companies secure competitiveness and grow, Kibo plans to expand the support scale of the Social Venture Impact Guarantee to 150 billion KRW this year, an increase of 15 billion KRW compared to the previous year.

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