NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, March 26, 2018

By Desmond O’Flynn

Asia is emerging as a big contributor to the global impact investing scene thanks mostly to its growing youth population.

For the unfamiliar, impact investing refers to the allocation of financing to companies that are deemed capable of injecting change whether in the environmental or social landscape, according to Investopedia. This, alongside the aims of raking in profit.

Just last month, the Global Social Impact Investment Steering Group (GSG) welcomed its newest member, the Republic of Korea, to its expanding network.

GSG chairman Sir Ronald Cohen said the inclusion of South Korea—the third Asian country to be part of the group—makes a significant step for the region. “This movement is truly an evolution in thought and a revolution in means. I am delighted that Korea has joined the revolution,” he said in an interview with Pioneers Post.

The official noted that the Asian country has exhausted $50 million to develop a wholesale impact finance for initiatives aiming to resolve social issues. Other than this, Cohen said the country has several businesses geared toward making an impact in the larger community, putting it on track.

Photo courtesy of GotCredit.