임팩트 금융의 최근 동향과 정책과제 = Recent Trends in Impact Finance and Policy Issues

다국어 초록 (Multilingual Abstract)

The paper discusses policy measure to promote impact investment in Korea. Impact investment in Korea started to develop around early 2000``s and is evaluated to have achieved qualitative transformation in its developmental stages by overcoming small size problem mainly thanks to governmental intervention. Some argue that active participation of the government in impact investment market did more harm than good by delineating the boundary of social enterprise in a narrow manner and deepening dependency of social enterprises on fiscal resources. Three measures are proposed to help establishing private initiative in impact investment market in Korea; tax benefit for impact investment to make it more attractive to investors, extension of the concept of fiduciary duty to induce investment professionals into accepting impact assets, and construction of infrastructure to measure social return.