On May 17, the Export-Import Bank of Korea donated KRW 20 million each to Mezzanine I-pack Co. Ltd. and Mezzanine Ecowon Co. Ltd., social enterprises employing North Korean immigrants.

Based in Paju, Gyeonggi Province, the companies are the first Korean social enterprises to have relocating North Koreans (Saetuhmin) comprise over 30% of their workforce. Mezzanine I-Pack is a manufacturer of boxes and Ecowon produce wood blinds.

The donation will assist the companies purchase machinery and equipment.

The additional machinery would then lead to increased job opportunities for Saetuhmin as they build a new life in Korea.

* Social enterprises provide jobs and social services to underprivileged groups while producing goods and services for sale. Their goal is to enhance the quality of life for local residents and contribute to society.

After delivering the donation at Bank headquarters, Chairman Yong Hwan Kim of Korea Eximbank expressed, “Social enterprises create job opportunities to assist the growing number of new members of our society, including multi-cultural families and people from North Korea.”

“As a policy bank supporting economic development and promoting trade with developing countries and North Korea, it is the duty and responsibility of the Bank to donate to social enterprises and other community activities.”

In March, the Bank joined hands with Gajok, a group home* for teens from North Korea relocating to the South. The Bank will support Gajok’s efforts to assist the teens in adjusting to Korean society.

* The group home housing system is different from other welfare facilities in that the members live in small, family-sized groups with a resident manager taking on the role of a parent. The system was initiated to give family-style care, rather than institutional management.

As part of Bank efforts for marginalized groups, the Bank also operates the SEED program. Under the program, the Bank allocates a portion of profits from financing large corporations (0.5%) to assist marginalized groups such as newly relocating North Koreans.