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The amount of the IKCF’s financial support in 2020 totaled KRW 44.2 billion, with KRW 41.7 billion in the form of grants and another KRW 2.5 billion in loans and other forms. Cumulative disbursements of the IKCF since its establishment in 1991 stand at KRW 7.1 trillion as of the end of 2020.
By providing grants and loans to South Korean public and private entities, the Bank supports costs incurred for cultural, academic and athletic events hosted together with North Korea.
Among the IKCF’s KRW 41.7 billion in grants in 2020, KRW 22.3 billion was allocated to projects facilitating economic cooperation between the two Koreas.
The IKCF provided additional KRW 13.9 billion to essential humanitarian assistance projects, such as aid for maternal and pediatric health care.
KRW 5.5 billion was allocated for projects promoting social and cultural exchange, such as the joint compilation of the Gyeoremal-keunsajeon (a unified Korean dictionary) and to support the reunions of separated families.