September 9, 2020 - The Asia Foundation and Artha Networks Inc. launched an inaugural event of Impact for Breakfast Seoul. The event gathered a local network of impact investors, commercial banks, family offices, international organizations, and the government, where they exchanged views on the landscape of sustainable finance in Korea.

The Impact for Breakfast Club (IFB) is an informal network of family offices, foundations, funds, venture philanthropy and intermediary organizations with a shared interest in social enterprise, entrepreneurship and impact investing. IFB members seek to learn from one another and to collaborate more effectively to increase their individual and collective impact. Launched in London in 2008, IFB has become a global network of communities spanning 14 cities including Geneva, New York, and San Francisco. The network’s 1600+ members are primarily impact investors and advisors as well as commercial banks and other organizations that wish to learn more about the sector.

The inaugural session of IFB Seoul discussed how the sustainable finance sector in Korea can build upon its strengths and address its weaknesses to increase its impact in Korea and the wider region. Professor Hannah Jun from Ewha Woman’s University present her findings of the sector assessment commissioned by The Asia Foundation and Artha Networks Inc. The presentation was followed by a question and answer session, where participants from different sectors shared their views, experiences and insights.

One participant - a CEO of an impact investment and social impact consulting firm based in Seoul - shared that it was “the first-time different groups of people from impact investment and mainstream investors came together.”

The event closed after a full agreement among participants to continue such events through forming an official IFB chapter in Seoul. The next IFB session has been agreed to take place next month, hosted one of the participants of the event, Wells Management.