December 31, 2020 - Using the newly launched impact investment digital platform, the Foundation selected five promising women entrepreneurs who have faced difficulties in business due to Covid-19 pandemic and have limited access to traditional finance such as bank loans and equity investments. Selected women entrepreneurs received a grant of KRW two million and were screened based on six criteria: 1) women entrepreneurs in Gyeonggi Province who have 2) less than three years of operation, 3) at least two employees, 4) been impacted by Covid-19 in operational and sales capacity, 5) reasonable business sustainability, and 6) passed the negative screening test, such as no involvement in sales or business of alcohol, tobacco, gambling, and other reputational risks in political affiliation and violations of laws.
The grants were based on the aforementioned criteria to ensure flexibility and timeliness of the grant. We have provided preference to those in vulnerable social groups, such as career-interrupted women re-entering the workforce. As of February 2021, the recipients indicated that they are currently using or plan to use the funds to cover the costs associated with product marketing and development in response to changed consumer behaviors after Covid-19.