Impact Bond: Hwaseong City SIB Project for Social Franchise Entrepreneurship Support and Survival Rate Improvement
Stage of development: Implementation
Policy sector: Employment and training
Intervention: Amid worsening labor market conditions, the number of unemployed individuals has been increasing, and many self-employed individuals are struggling to sustain their businesses. Although significant financial resources are being allocated, concerns about the sustainability of these policies persist. Most entrepreneurship support programs focus on basic training with limited follow-up management, resulting in insufficient outcomes in critical areas such as brand and menu development, post-startup survival rates, and the sustainability of employment.
Date outcomes contract signed: 2023-08
Start of service provision: 2024-11
Anticipated end of service provision: 2028-10
Total investment commitment currency: KRW
Total investment commitment: 2500000000
Total investment commitment (USD): 1754885
Maximum potential outcome payment: 3710000000 KRW
Maximum potential outcome payment (USD): 2604249.34
Target population: Individuals who are either aspiring entrepreneurs with no income or existing restaurant business owners within three years of establishment.