Korea Social Value and Solidarity Foundation

Korea Social Value and Solidarity (SVS) Foundation was established on December 2018, as part of the Korean government’s ‘Social finance promotion strategy (8 Feb 2018)’. The SVS Foundation is the first wholesale fund established in Korea based on the partnership between public, private and civil society. The SVS Foundation aims to contribute to the development of the social finance ecosystem and the social economy. Inauguration of the SVS Foundation took place only one year after the organization of the ‘Social Value and Solidarity Fund Taskforce’ by social finance organisations and experts in February 2018. As the first Korean social economy wholesale fund led by the private sector and civil society with support from the public, the Foundation will contribute to the establishment of sustainable social finance ecosystem and the promotion of social economy. Korean social finance has passed an initial phase and now entered its developmental stage. Although there is a mismatch in demand and different types of supplies, lack of local intermediaries and private participation, we expect that social finance markets will grow substantially considering current growth momentum of social enterprises in Korea.