One-year support for recruitment of ‘Circular Innovation 2025’ for Korea Social Investment and Global Coca-Cola Foundation up to 50 million won
A program will be launched to select innovative companies in the early stages of the circular economy and provide interest-free funding for one year. It targets companies with technologies and solutions in the circular economy and ESG fields such as PET recycling, eco-friendly material development, and resource circulation platforms.
Impact Investment Corporation Korea Social Investment (Chairman Lee Jong-ik) announced on the 23rd that it will recruit companies participating in the second year of “Circular Innovation 2025” to grow innovative companies in the circular economy sector.
It is a program sponsored by the Global Coca-Cola Foundation and features the introduction of a new investment model called “Hybrid Impact Free Convertible Bond (CB)” this year. It provides interest-free funds for a year to start-ups or early companies with innovation in the circular economy and ESG (environmental social governance) fields, and allows them to choose loan-type repayment or equity conversion depending on the company’s repayment ability and growth potential at maturity. You can receive up to 50 million won in support.
Unlike conventional financial investment, the focus was on reducing the initial financial burden on companies and creating social values such as the spread of sustainable circular economic innovation.
Lee Soon-yeol, CEO of Korea Social Investment, said, “This interest-free CB project is an innovative investment method that pursues both financial profitability and social impact,” adding, “We will actively support early companies with growth potential to lead circular economic innovation without financial burden.”
Applications are received from the Korea Social Investment website.
