ABOUTUS

Korea Social Value and Solidarity Foundation

The Korea Social Value and Solidarity Foundation was established as part of the Korean government’s ‘Social finance promotion strategy (8 Feb 2018)’. The foundation is the first wholesale fund established in Korea based on the public-private partnership. The foundation seeks to contribute to the development of the social finance ecosystem and the social economy.

Mission

Establishment of a financial foundation for promoting the Korean social economy and disseminating social values.

Research on enhancing and disseminating social values, incubation of social economy organizations that create social values, contribution to social development through financial support for social economy organizations.

Principles of fund

Management

Establishment of the fund through a public-private partnership in which civil society leads and the government supports initiatives (reference: Korean government ‘Social finance promotion strategy’ 8 Feb 2019)

Establishment of the fund through a public-private partnership in which civil society leads and the government supports initiatives (reference: Korean government ‘Social finance promotion strategy’ 8 Feb 2019)

Implementation Timelines

  • February 2018 : Organization of ‘Social Value and Solidarity Fund Implementation Council (chairperson: Rev. Kyong Yong Song)’ by gathering other social economy councils, social finance organizations and experts to discuss major issues of establishing the fund

  • May – June 2018 : Establishment of the planning and the preparatory committee under the council to proceed main tasks of launching the foundation such as the legal and administrative side of preparations.

  • September 2018 : Discussion on fund mobilizations (with cooperative finance and social finance related institutions)

  • 27 December 2018 : Approval for the establishment of foundation (under the Ministry of Strategy and Finance of Korea)

  • 23 January 2019 : Signboard hanging ceremony and hosting of the inaugural event

Main projects

As a first Korean wholesale fund of social finance established in Korea led by civil society, the SVS foundation implements projects to contribute to the development of a sustainable social finance ecosystem and the promotion of social economy

01 / Providing patience capitals to social economy organizations 

Provision of necessary finance for social economy organizations through tailored means by various intermediary organizations

02 / Supporting high social impact projects

Supporting Social Impact Bonds (SIBs), social housing, community ownership, renewable energy participated by social economy organizations, local governments related special projects, support for specialized projects by different industries

03 / Fostering social finance intermediary organizations and 
market infrastructures

Implementing support measures, training and organizing events including capacity building for social finance intermediaries, investment for local based expansion, the establishment of networks, adoption of the certification systems.

Board of directors

President, Rev

Kyongyong Song 

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President, Nanum / Mirae

(Sharing for future)


Former Chairperson, Global Social Economy Forum

Secretary-General,

Hakyang Park

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Former Executive Director,

Korea Credit Guarantee Fund

Director,
Jaegu Kim

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Professor, Myungji University

Director,

Cheongwan Namgung

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Director, National Credit Union Federation of Korea

 

Executive Director, Social cooperatives Hyeminseo

Director,

Inja Park

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Executive Director, iCOOP

 

​Director, Korea Social Enterprise Promotion Agency

Director,
Miyoung Lee

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CEO, Fairtrade Korea

Director,
Hyunmin Lee

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Executive Director, Jeonbuk Social Economy Network

Director,
Won O, Chong

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Mayor, Seongdong district / Seoul

President of the Association

of Korean Local Governments

for Social Economy and Solidarity.

Director,
Youngmi Choi

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Director, Korea Federation of Worker Cooperative

Copyright (c) 2019  Korea Social Value and Solidarity Foundation. All Rights reserved.