HF Delivers Busan Economic Revitalization Fund (BEF)

- 9 Public Institutions in Busan Join Forces to Build a Sustainable Local Economic Ecosystem

Korea Housing Finance Corporation (HF, CEO Kim Kyung-Hwan) announced on the 23rd that it, together with eight other public institutions in Busan,* delivered KRW 1.17 billion from the Busan ESG Fund (BEF) to the Social Innovation Research Institute and Busan Economic Promotion Agency.

* Korea Technology Finance Corporation (KIBO), Busan Metropolitan Corporation, Busan Port Authority, Korea Housing & Urban Guarantee Corporation (HUG), Korea Southern Power, Korea Securities Depository, Korea Asset Management Corporation (KAMCO), and Korea Ocean Business Corporation (alphabetical order).

The fund will be used for various support programs, including ▲ education programs to strengthen the startup and management capabilities of social economy enterprises, ▲ support for the technology development, exploration of domestic and overseas sales channels, and promotion of small and venture companies, and ▲ other programs to promote industries and small and venture companies in the Busan region. 

HF CEO Kim Kyung-Hwan said, “Our continued efforts since the establishment of the fund are bearing fruit by contributing to the creation of a sustainable local economic ecosystem in Busan,” adding, “HF will continue to work to provide practical support for social economy enterprises and innovative companies through cooperation among public institutions.”

The Busan ESG Fund (BEF) was jointly established in 2018 by nine public institutions in Busan to promote the local economy and spread ESG practices. Initially focused on supporting social economy enterprises, the fund has gradually expanded its support to small and venture companies in the Busan region.