Status of Support for Social Enterprises
Woori Bank - Business agreement with the Ministry of Employment and Labor to support ecosystems for social enterprises (July 2018 ‒ July 2023)
| Item | Amount | Key support contents |
|---|---|---|
| Startup Funding | 2.5 billion KRW |
Support for the vitalization of social enterprise businesses (500 million KRW per year, cash) - Social Venture Idea Contest - Support for the WE-Star Discovery Project and public campaigns |
| Loan Support | 124.6 billion KRW |
Enhancement of loan support for social enterprises (certified/preliminary) |
| Fund Investments | 1.95 billion KRW |
POSTECH Social Enterprise Fund (Nov. 2013) - Investment of 90 million KRW - POSCO IDV Growth Ladder Fund (Dec. 2014) - Investment of 360 million KRW - PCC Social Enterprises No. 2 Fund (Nov. 2018) - Investment of 1.5 billion KRW |
| Market Sales Support | - |
Assisting market entry through the purchase of goods - Purchased bill counting machines, vests for volunteers, etc. |
| Spot Assistance | - |
Support for events related to social enterprises - Financial counseling and consultation for social-economic expositions |
※ Woori Bank awarded the Presidential Citation for Promoting Social Enterprise in June 2017 (the only financial institution to receive the award)
Woori Bank ‒ Secondary business agreement with the Ministry of Employment and Labor
Agreement Period: July 2018 - July 2023 (5 years) / Agreement amount: 50 billion KRW
| Item | Major Contents | Implementation plan | Support amount | Remarks |
|---|---|---|---|---|
| Cash | Startup Fund |
Developing educational programs on social finance and economy Fostering and promoting star social enterprises |
2.5 billion KRW (500 million KRW per year) | - |
| Noncash | Loan Support |
Financial support for stage-wise development |
32.5 billion KRW(6.5 billion KRW per year) | - |
| Fund Investment |
Additional investment in the fund for social enterprises of the Ministry of Employment and Labor |
5 billion KRW 1 billion KRW per year) | - | |
| Market Sales Support |
Purchasing supplies, etc. |
5 billion KRW (1 billion KRW per year) | - | |
| Spot Assistance |
Consulting, education, financing participation in expositions, etc. |
5 billion KRW (1 billion KRW per year) | - | |
| Total | 50 billion KRW | |||
