The Export-Import Bank of Korea announced on March 14 that it joined hands with Gajok, a group home* for teens from North Korea who have relocated in South Korea.
* Group home is a housing system that is differentiated from other welfare facilities in that the members of the home live in small, family-sized groups with a resident manager that act as a parent. The system was initiated to give familial, rather than institutional, care for members of society that need social assistance.
Founded in June 2006 and located in Jungrung-dong, Sungbuk-gu, Gajok is a group home for ten North Korean teens who are alone in South Korea. The teens and a resident manager live together as a family until the teens are able to become independent.
The Bank decided to join Gajok and help the children become productive and independent members of Korean society.
Chairman Yong Hwan Kim of the Export-Import Bank of Korea stated, “As the organization entrusted to operate the Inter-Korean Cooperation Fund, the Bank supports programs to assist relocating North Koreans such as alternative schooling and social enterprises providing jobs for North Korean immigrants. The Bank plans to expand support for small, often overlooked organizations such as Gajok to make practical contributions to our new members of society.
Tae Hoon Kim, the resident manager of the group home, expressed, "There have been little interest and support for small welfare homes such as Gajok. I am grateful for the support of the Korea Export Import Bank of Korea for our home. With the support of the Bank, we will make greater efforts to help the children adapt to the new environment."
In February of this year, the Bank presented Gajok with scholarships for individualized education programs. The Bank also plans to sponsor an art exhibition with the works of the children to increase their self-esteem and sense of accomplishment later in the year.
In addition to support for Gajok, the Bank initiated the SEED program, a program in which the Bank allocates a portion of profits from financing large corporations (0.5%) to assist marginalized groups of society.
