Inside Korea’s Social Impact

  In Korea, the Framework Act on Cooperatives was enacted in 2012. Since then, the government has announced a “Basic Plan for Cooperatives” every three years, presenting policy goals to guide the direction of cooperatives and promote their activities over the next three years.   The 1st Basic Plan for Cooperatives was announced in 2014 (2014 – 2016), the 2nd in 2017 (2017 – 2019), the 3rd in 2020 (2020 – 2022), and the 4th in 2023 (2023 – 2025). On April 6, 2026, the 5th Basic Plan for Cooperatives was newly announced. The 5th plan will be applied from 2026 to 2028.   In this article, I will organize the overall direction of the Basic Plans for Cooperatives that have been announced so far.   Background of the Basic Plan for Cooperatives   Why is the Basic Plan for Cooperatives established every three years? The reason is presented in the 1st Basic Plan for Cooperatives announced in 2014. At that time, Korean society was transitioning from a perio...

  In many countries, social impact is primarily driven by non-profits, social enterprises, and the public sector. Korea is not very different. In fact, when explaining social impact to those unfamiliar with the concept, many people tend to think of it as an area centered on public services or welfare.   However, the reality is slightly different. While it is true that social impact carries a strong public nature due to its mission of addressing social problems and achieving social goals, a closer look reveals that general corporations — especially large companies — also play a significant role in the development of the social impact ecosystem.   That said, the way corporations engage has evolved. In the past, corporate involvement often took the form of donations, one-time social contribution activities, or ESG being included as part of a broader business strategy. Recently, however, more companies are approaching social contribution with a long-term perspective, ...