Add social value to finance
Most of the social economy enterprises lack access to finance, despite their contribution to inclusive social and economic development. The SVS Foundation aims to enhance the financial accessibility of social economy enterprises by providing tailored finance such as patient capital for their stable development and scaling up.
The SVS Foundation also mobilize funds with other partner institutions to invest in impact projects that require large-scale finances such as renewable energy and social housing sector.
The Foundation distributes funds through various social finance intermediaries based in different regions of Korea to create a social finance ecosystem.
The primary purpose of the SVS Foundation is to make finance ‘social’ not to maximize profits. It adds social value to finance and that is what ‘finance’ is meant to be in the very first place.
Vision & Mission
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
- Contribute 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
Main Projects
As the first Korean wholesale social finance established in Korea, the SVS Foundation implements various financial projects for social economy enterprises in cooperation with social finance intermediaries.1 Provide patience capital to social economy organizations
Provide patient capital to the social economy(as a subordinated and secondary role) with differentiated pricing based on social value.
- Collaboration with the Korea Growth Fund and Korea Venture Investment to establish a senior subordinated structure
- Serve as a secondary when funds terminate
- Provide finance to existing/new social finance intermediaries
2 Support high social impact projects
Structure a finance system based on the convergence of mutual credits, local government and civil society to realize social impact projects.
- Social Impact Bonds(SIBs)
- Social housing and community ownership
- Renewable energy
- Specialized projects by regions and industries
- Innovative technology
3Foster social finance intermediary organizations and market infrastructures
Respond to increasing social finance demands according to the growth of the social economy through fostering local intermediaries(retail finance).
- Foster capable social finance institutions
- Promote social finance markets through quantification of social values
Board of Directors
Rev. Kyongyong SongPresident- President, Urban Regeneration Governance Forum
- President, Nanum / Mirae
(Sharing for future) - Former chairperson, Global Social Economy Forum
Hakyang ParkSecretary General- Former Executive Director, Korea Credit Guarantee Fund
Jaegu KimDirector- Professor, Myungji University
- Former President, Korea Social Enterprise Promotion Agency
Cheongwan NamgungDirector- Director, National Credit Union Federation of Korea
- Executive Director, Social cooperatives Hyeminseo
Inja ParkDirector- Executive Director, iCOOP
- Director, Korea Social Enterprise Promotion Agency
Miyoung LeeDirector- CEO, Fairtrade Korea
Hyunmin LeeDirector- Executive Director, Jeonbuk Social Economy Network
Won O, ChongDirector- Mayor, Seongdong district/Seoul
- President, Association of Korean Local Governments for Social Economy and Solidarity
Youngmi ChoiDirector- Director, Korea Federation of Worker Cooperative