HF Joins Efforts to Boost the Social Economy
- Date 2017-11-21
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HF Joins Efforts to Boost the Social Economy
- HF creates funds to support social enterprises, stimulating the local economy and creating jobs
Korea Housing Finance Corporation (HF, CEO Kim Jae-Chun) revealed on November 21, 2017, that it signed an MOU with six public institutions* based in Busan and Munhyeon Innovative City. HF has joined hands with them to boost the local economy and the social economy.
* HF, Korea Technology Finance Corporation, Korea Housing & Urban Guarantee Corporation, Korea Southern Power, Korea Securities Depository, and Korea Asset Management Corporation
Under the MOU, HF and other public institutions set a goal of raising 5 billion won in funds over the next five years. The objective of the fund is to boost the social economy by supporting startup social enterprises to begin and develop their businesses.
In particular, HF will support social enterprises headquartered in Busan by ▲ offering housing guarantees to encourage urban regeneration projects and social housing supply, ▲ providing them with consulting on how to start, manage, and finance a business, ▲ helping them promote their business, ▲ publicizing them on its webpage, and ▲ running HF and National Housing Fund guarantee programs in favor of social enterprises.
HF CEO Kim Jae-Chun said, “We will do our best to leverage our housing guarantee expertise to promote urban renewal and social housing projects and job creation in the private sector.”