KB Financial Group is set to invest in impact companies that address social issues and support business growth.
On September 30, KB Financial Group announced the formation of a 'Cooperation Fund of Funds' in collaboration with the Foundation for Cooperation among Large, Medium, and Small Enterprises and the Korea Venture Investment Corporation.
This fund marks the first instance of utilizing the Large, Medium, and Small Enterprises Cooperation Fund for venture investment under the revised Cooperation Act.
KB Financial will contribute 30 billion won from its previously established 10 billion won Cooperation Fund. The funds contributed by the foundation will be managed by the Korea Venture Investment Corporation, which plans to match additional private funds to create a total sub-fund of 50 billion won.
The sub-fund will invest in impact companies that pursue not only financial performance but also solutions to social issues and the creation of social value. The goal is to enhance business competitiveness by providing funding to innovative and growth-oriented companies, establishing a virtuous cycle where corporate growth leads to solutions for social problems.
A KB Financial representative stated, "We hope that the establishment of this fund serves as a model for cooperation that links donations and investments, encouraging more companies to participate. We will support capable companies to maintain competitiveness in the market and achieve sustainable growth."
* This article has been translated by AI.
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