The Technology Guarantee Fund (hereinafter referred to as the "KIBO"), together with eight public institutions in the Busan area, held the "2025 Busan Economic Activation Support Fund (Busan ESG Fund, hereinafter referred to as the "BEF") Delivery Ceremony" at the Busan International Finance Center (BIFC) on the 17th (Tuesday) and announced that the funds were delivered to the Social Innovation Research Institute and the Busan Economic Promotion Agency, the trustee organizations.
BEF is a joint fund established by public institutions in the Busan area in 2018 to vitalize the Busan economy and expand ESG management. Participating institutions include nine institutions including Kibo, Busan Urban Development Corporation, Busan Port Authority, Housing and Urban Guarantee Corporation, Korea Southern Power, Korea Deposit Insurance Corporation, Korea Asset Management Corporation, Korea Housing Finance Corporation, and Korea Ocean Promotion Corporation.
At this transfer ceremony, a total of KRW 1.17 billion, prepared by each participating organization contributing KRW 130 million this year, was transferred to the trustee organization, bringing the total amount of BEF contributions to KRW 8.68 billion. The fund supports social economy enterprises and small and medium-sized venture enterprises in the Busan area, contributing to the sustainable growth of the local economy and the spread of ESG management.
The fund raised this time will be used for ▲ fostering social startups that solve social problems ▲ operating social performance creation programs ▲ supporting overseas expansion ▲ supporting open source-based social problem-solving businesses, etc. for 37 companies in the social economy sector. In addition, projects to strengthen the self-reliance capacity of young people preparing for independence, people with developmental disabilities, and vulnerable groups and to link local jobs will also be promoted.
In addition, in the local SME and venture business sector, 29 companies will be selected to receive ▲ESG consulting and facility support ▲R&D commercialization funding support ▲IR pitching competitions, etc. In addition, in order to expand the overseas export base of local SMEs, the World Korean Business Forum and export consultation meetings will be held and a trade delegation will be dispatched.
Kibo Director Lee Sang-chang, who attended the ceremony, said, “Kibo is supporting the innovative growth of venture and startups in the Busan area by promoting the BEF project through collaboration with public institutions,” and “We will continue to actively link the accumulated technology finance know-how with local economic revitalization projects to take the lead in creating a regional-based, mutually beneficial economic ecosystem.”
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