Pay for Success

Pay for Success

Seoul Metropolitan Government (SMG) has adopted the Pay for Success (aka Social Impact Bond, SIB) to the field of child welfare for the first time in Asia, with Pan-Impact Korea being the general management agency of the project. The first SIB project of SMG is to improve the self-care ability of 100 children who are intellectually and developmentally challenged through training and support. SMG encourages investors from different sectors to bring positive impacts to society. The CEO of Pan-Impact Korea, Mr Kwak Jae-hoon, is going to share more about the practical operational aspects of SIB at the session “Pay for Success” during the Social Enterprise Summit (SES) 22th-24th November.

Source: Seoul SIB Fact Sheet - Pan-Impact Korea