Busan Small Business Support 'Crowdfunding' Boosted... 9 Public Institutions Including BPA Participate in Busan Area

BEF Provides Additional Sales Support and Investment Matching Funds for Social Venture Companies

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Busan Port Authority (President Kang Jun-seok) and nine public institutions in the Busan area are launching a crowdfunding project to support small business owners in Busan using the 'Busan Economic Revitalization Support Fund (BEF)'.

The crowdfunding project is a representative BEF initiative carried out annually to support small business owners such as social ventures in Busan who are struggling due to the economic downturn, helping them develop sales channels and increase sales.

The participating public institutions include the Korea Technology Finance Corporation, Busan Urban Corporation, Busan Port Authority, Korea Housing & Urban Guarantee Corporation, Korea Southern Power, Korea Securities Depository, Korea Asset Management Corporation, Korea Housing Finance Corporation, and Korea Ocean Business Corporation.

This year's crowdfunding runs for about one month from the 21st of last month until December 18. A total of 14 companies are participating, and if the sales target amount and participation goals are met, BEF will provide matching investment funds of approximately 40 million KRW to the companies.

This year, distinctive items and services such as 'Eomma-ui Maeum's' simple kimchi-making kit, 'Another Day's' aroma paint for the visually impaired, 'Rebengreeda's' reminiscence fairy tales for the elderly, and 'Station K's' shared office for youth and small business owners will be showcased.

Anyone wishing to participate in the crowdfunding can access the funding platform (Oh My Company), search for 'BEF' in the search bar, or click the 'Social Enterprise Research Institute' banner to join.

Kang Jun-seok, President of BPA, said, "Public institutions are cooperating to support sales channel development in various ways to revitalize the local economy," adding, "We hope for interest and participation so that social ventures and small business owners in Busan struggling due to the economic downturn can regain strength through this crowdfunding project."

BPA and the nine public institutions in Busan have been supporting social ventures in the Busan area through financial support, management consulting, talent development, and sales channel development by raising 5.17 billion KRW in BEF funds over the past five years.

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