Saemaul Geumgo Central Association will contribute 2 billion won to the Korea Social Value Fund to assist in financing social solidarity economy organizations.
On September 18, Saemaul Geumgo announced that it held a fund delivery ceremony at the Korea Social Value Fund headquarters in Mapo-gu, Seoul.
The contribution will enhance financial accessibility for social enterprises, cooperatives, self-sustaining businesses, and community enterprises, while promoting local-based social solidarity finance.
Of the 2 billion won, 1 billion won will be allocated to the 'Sunlight Income Village Support Project.' This initiative will support community cooperatives in securing credit loans to cover part of the resident burden when installing renewable energy facilities, such as solar power. Saemaul Geumgo plans to provide credit loans for about one-third of the resident burden, aiming to establish renewable energy generation facilities with a capacity of approximately 13 megawatt-hours (MWh).
The remaining 1 billion won will be used for specialized social housing projects. This funding will support social solidarity economy organizations in operating rental housing using land or properties provided by public institutions. The plan includes offering loans for land acquisition to selected social solidarity economy organizations, establishing a foundation for the supply of approximately 140 social housing units.
A Saemaul Geumgo official stated, "We hope this contribution will provide practical assistance in financing social solidarity economy organizations and will continue to support social solidarity finance that can grow together with local communities."
* This article has been translated by AI.
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