Korea Social Value and Solidarity Foundation ready for post-Corona era by adding social value

Overcoming the crisis through social solidarity

Help does not mean lifting an umbrella. It means getting wet by the rain together.”

By Sang-ki Lee
Former President of the Journalists Association of Korea,
CEO of Magazine N and AsiaN

SEOUL: Moves and efforts by Korea Social Value and Solidarity Foundation, which promotes social solidarity and cooperation to overcome the COVID-19 crisis, have won numerous hearts and minds.

People have heaped praise on this deeply committed dedication to overcome the unexpected recession caused by COVID-19 with all levels of organizations has

The foundation has stressed the significance of solidarity in times of challenges by launching recently active actions to overcome the crisis with the slogan “Help does not mean lifting an umbrella. It means getting wet by the rain together.”

The foundation is trying to get over this unfortunate recession by introducing little and big actions of companies and organizations that are practicing donations and solidarity with Life-In, and sharing profits and taking responsibility of salaries.

Disaster Solidarity Fund said they are going to support fund to social and economic businesses that suffered direct damage by COVID-19 with 60 million won donated by Korea Land & Housing Corporation (LH) with the purpose of overcoming social and economic crisis.

On July 30, Korea Social Value and Solidarity Foundation said that they are going to support growth of social venture and economic companies that contribute to social problems solutions by signing a social impact investment business agreement with TBT to promote social finance and establishing a strategic partnership through TBT Open Innovation Investment Agreement.

As of July 30, 2020, TBT Open Innovation Investment Association is focusing on finding promising startups in IT department and venture companies by investing in social and economic businesses, digital business innovation companies based on 23 billion won.

In addition, Korea Social Value and Solidarity Foundation with Ansan Medical & Life Co-operative association has been engaged in good deeds such as processing social return project of supporting quarantine activities and providing relief supplies to children’s education centers and night school classrooms in ‘KoryoIn Center Mireu’ located in densely populated area in Ansan.

The project, which returned 90 million won for Ansan local communities, came from interest savings from the Ansan Medical Association. This is considered as a great role model to make a healthy community care system.

Ansan Medical & Life Co-operative association, which share difficulties with a lot of different social and economics companies, is considered a great role model as it tries hard to overcome economic recession caused by COVID-19 with close cooperation with countries that suffered from COVID-19.

Meanwhile, Korea Social Value and Solidarity Foundation, which was launched as the first social financial wholesale fund last year for social and economic activation and social financial ecosystem development, has been pushing forward providing social economic patience capital, supporting social-purpose projects, and fostering social financial intermediaries among several other activities.