The Korea Social Value and Solidarity Fund, in collaboration with Jeonju City and MYSC, signed a business agreement for the Lycon Fund at Jeonju City Hall on 27 June to foster the growth of social economy enterprises in the Jeonju region. This collaborative model involves investment by the local government and a public interest corporation, with an impact investment specialist responsible for nurturing and investing. It represents a project undertaken by the foundation in the form of a fund, as part of its ongoing efforts to facilitate local funding initiatives.

This achievement is the result of over two years of intense study, discussion, and persuasion of the city council by activists from Jeonju’s intermediary support organisation (#Jeonju Regional Communication and Cooperation Centre) and city officials responsible for the social economy. We hope this will provide an opportunity for enterprises creating social value in Jeonju, a city rich in cultural infrastructure and human resources, to grow through investment.