"Financial Consumers Must Enhance Their Capacity for Sustainable Value-Based Finance"

"2026 Value Finance International Forum" Held at the National Assembly on March 19

It was suggested that for value-based finance to be sustainable, it is essential for financial consumers to have the capacity and proactive participation. At the "2026 Value Finance International Forum" held on March 19 at Seminar Room 3 of the National Assembly Members' Office Building in Yeouido, Seoul, Woonyoung Jung, Chairperson of the Finance and Happiness Network, emphasized that the key conditions determining the sustainability of value-based finance are the judgment and participation of financial consumers.

The "2026 Value Finance International Forum" held on the 19th at Seminar Room 3, National Assembly Members' Office Building, Yeouido, Seoul. Photo by Eunju Lee

The forum was co-hosted by National Assembly members Byungdeok Min, Seungwon Kim, Kangil Lee, and Changmin Han of the National Policy Committee. It was jointly organized by the Social Innovation Entrepreneurs Network, the Korean Association for Cooperative Studies, the Finance and Happiness Network, and the Korea Social Solidarity Economy. Under the theme "Value-Based Banking: Transforming Finance for a Sustainable Society," global case studies and domestic introduction strategies were actively discussed.

In particular, the forum saw the official announcement of the "Declaration to Promote Value-Based Financial Cooperatives," which had been carefully prepared by social innovation stakeholders. The declaration included participation from social economy organizations, cooperatives, and local financial entities, aiming to create a financial structure that channels citizens’ deposits into areas of social need such as care, housing, energy, and the local economy. The promotion committee presented a vision to establish a virtuous cycle of deposits and investments through this initiative and to lay the foundation for the sustainable growth of the social solidarity economy.

During the discussion, Chairperson Jung stated, "A value-based bank is not finance that competes solely on interest rates and convenience, but finance that collectively asks what kind of society it is building with its funds." He added, "Ultimately, sustainability depends on whether financial consumers understand the impact their money has on society and have the capacity to make independent choices." He further emphasized, "Whereas traditional financial education has focused on personal financial stability such as savings, investment, and debt management, it should now be expanded to consider the social impact of funds. Along with education, a cultural foundation that allows for the accumulation of real participatory experiences must also be established." Jung also pointed out, "No matter how good the rationale, if financial consumers do not perceive any tangible benefit, it will not be sustainable," stressing that value-based finance should be designed on the premise of 'perceivable benefits.'

The forum also shared concerns regarding the role and direction of value-based finance. Martin Rohner, Secretary General of the Global Alliance for Banking on Values (GABV), stated in his keynote, "Finance is not neutral, and the direction in which capital flows is the direction of society." He explained, "Value-based banks are financial institutions that aim to supply funds to the real economy and local communities, and to solve social and environmental challenges." He especially stressed, "Without designing value-based finance, the basic society will inevitably be built on unstable foundations," highlighting the need for Korea to establish financial models that match its social vision.

In the ensuing discussion, the "value-based financial cooperative" model was proposed as an alternative to address complex crises such as youth unemployment, regional extinction, and inequality. The promotion committee revealed that it is conceptualizing a structure that supplies funds to sectors such as social housing, renewable energy, and integrated care, based on the core principles of purpose, transparency, and solidarity. Forum participants evaluated that, by bringing together policy authorities, research institutions, and cooperative finance practitioners to discuss institutional foundations, operational methods, and financial models, this event would enhance the implementability of introducing Korean-style value finance.

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