The Korea Technology Finance Corporation ( Korea Technology Finance Corporation, Chairman Kim Jong-ho, hereinafter referred to as “KOICA”) announced that it signed a “Business Agreement to Support the Expansion of Global Impact and Growth of Social Venture Companies Participating in the CTS” with the Korea International Cooperation Agency (KOICA, Chairman Jang Won-sam, hereinafter referred to as “KOICA”) on Friday, the 12th, at the KOICA headquarters in Seongnam, Gyeonggi Province.
This agreement was established to support the global expansion of social ventures and the growth of the social solidarity economy ecosystem by linking Kibo's social venture support system and impact finance with KOICA's innovative technology program, "CTS (Creative Technology Solution).
Under the agreement, KOICA plans to promote KIBO's social venture system to CTS participating companies and explore the development of new programs in conjunction with KIBO. KIBO will provide CTS participating companies with customized, comprehensive support, including: social venture-specific technology assessments, social value measurement, impact assurance, consulting, and recommendations for outstanding social ventures.
In particular, KIBO plans to support fair market evaluation and sustainable growth by supporting the calculation of social value created by social ventures into monetary units through a social value measurement system.
Through this agreement, the two organizations will establish an organic cooperative system to simultaneously support the strengthening of social ventures' technological competitiveness and the realization of social value, and will also continue collaboration to expand global impact.
Kim Jong-ho, CEO of Kibo, said, “This agreement is significant in that it has established a foundation for systematic support for social ventures’ overseas expansion and growth by consolidating the capabilities of the public sector,” and added, “Kibo will continue to strengthen cooperation with relevant organizations to actively support social ventures’ creation of social value and global advancement.”
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