The Korea Technology Finance Corporation (Korea Technology Finance Corporation, Chairman Kim Jong-ho, hereinafter referred to as “KIBO”) announced on Wednesday the 13th that it had signed a “Business Agreement for the Expansion of Social Performance Management of Social Venture Enterprises” with the Seoul Social Venture Hub (Director Seo Young-woo, hereinafter referred to as “Hub”), a social venture support organization under the Seoul Metropolitan Government.
This agreement was established to establish a foundation for measuring the social performance of social ventures and to support the discovery and growth of companies with excellent social value, thereby revitalizing the social venture ecosystem.
The two organizations will cooperate in areas such as ▲social value measurement and consulting support ▲provision of education related to social value measurement ▲preferential guarantee support for companies with excellent social value ▲support for corporate promotion and investment attraction to support social venture companies.
Kibo plans to quantitatively measure the social value creation performance of companies in its hub by utilizing its self-developed social value measurement model, 'KSVM (Kibo Social Value Measurement),' and provide preferential growth funding support to companies with excellent performance through social venture impact guarantees.
The hub will support resident companies' growth by linking follow-up support, such as promotion and investment attraction, based on the results of the social value measurement of the company.
Jeong Gyu-yeol, head of the Seoul Western Regional Headquarters of Kibo, said, “Through this agreement, we hope that social venture companies will be able to enhance their social value management capabilities in line with the growing trend of ESG management and even create economic performance through financial support.” He added, “Kibo will continue to work with various related organizations to expand social value and revitalize the social venture ecosystem.”
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