A scene from the 2024 Social Enterprise Day ceremony held last year. 'Dream With Ensemble,' an arts group composed of musicians with developmental disabilities, performed a celebratory piece. Dream With Ensemble is a social cooperative.(Photo by Milly)   Starting in July each year, Korea’s social economy becomes increasingly active with a range of events, forums, and expos. From the bustling summer months to the colorful autumn season, the sector is filled with opportunities for connection and collaboration. These gatherings serve as vibrant festivals where social economy stakeholders from Korea and abroad network, share insights, explore trends, and promote meaningful business partnerships. First Week of July: Social Economy Week   The Korean has designated July 1st as “Social Enterprise Day” to promote the work of social enterprises. Moreover, the period from July 1st to 6th is recognized as Social Economy Week, during which various programs and activities take place nat...

Social economy enterprises in Korea continue to thrive by fostering community participation, offering skill-building opportunities, and promoting ethical consumption.(Photo by Milly)   The biggest difference between social economy enterprises and regular businesses is that they aim to generate both profit and social value. Simply put, they operate businesses based on a mission or value they wish to achieve or expand. But growing impact while also making money? That’s no easy task.   “I don’t really know if this is a product from a social enterprise or a cooperative. I just buy it if I think it’s good and reasonably priced.”   A close friend of mine said this. Even after knowing me for years and understanding the kind of work I do, being a “social economy product” wasn’t a factor when making actual purchasing decisions. And honestly, not just friends — even my own family rarely go out of their way to buy from social economy enterprises. So why is it so hard to sell...

 In 2024, Korea’s medical welfare cooperatives celebrated their 30th anniversary with a commemorative event. Pictured: the anniversary ceremony. (Photo by Milly)   In a previous post, I wrote about how social economy organizations play a vital role in realizing community-based integrated care. Among them, one of the most notable examples is the medical-welfare social cooperative, which I briefly mentioned. In this post, I’d like to take a closer look at what these cooperatives do.   😊Providing “Healthy Care” for Local Residents   As Korea transitions into a super-aged society, there is growing awareness of the need to move beyond hospital-centered care and instead build systems that allow older adults to age in place — within the communities they know and love. In fact, Korea plans to implement the Integrated Care Support Act in 2026, which has sparked public sector discussions about how to provide care services more efficiently.   In this cont...

A scene from the 2023 Policy Forum of Medical-Welfare Social Cooperatives. Social economy organizations in Korea are continuously exploring ways to provide integrated community-based care.(Photo by Milly) In 2024, South Korea officially entered a “super-aged society,” with more than 20% of its registered population aged 65 or older. This demographic shift has been largely driven by the aging of the baby boomer generation, born between 1955 and 1963, who are now becoming seniors. As a result, public interest in elderly care is growing rapidly.   😃The Role of Community-Based Integrated Care and the Social Economy   Many elderly people in Korea wish to stay in their own neighborhoods until the end of their lives. However, adult children, who are often expected to care for aging parents, find it difficult to provide hands-on support due to work and other personal responsibilities.   In response, community-based integrated care has emerged as a key solution. This ...

In 2023, international speakers were invited to a forum highlighting the importance of social value measurement.(Photo by Milly)  In the previous post, I talked about why social economy organizations in Korea — such as social enterprises, cooperatives, village enterprises, self-support enterprises, and social ventures — need to measure their impact. In this post, I’ll look at how these organizations are actually measuring the impact they create.   Korea’s representative approaches to impact measurement include the Social Value Index (SVI) and the Social Progress Credit (SPC) .   👀Social Value Index (SVI)   One of the government-led methods for measuring impact is the Social Value Index (SVI). The Korea Social Enterprise Promotion Agency, a public institution, has developed this index to assess the impact created by various social economy organizations.   In 2023, the Korean government officially announced the introduction of the SVI system. The...

 Around the world, social economy organizations don’t simply pursue profit. Instead, they aim to create a positive impact on people, communities, and the environment. For instance, they provide jobs for marginalized groups like the elderly or people with disabilities, or run sustainable businesses that protect the environment. These are all common activities carried out by social economy organizations. Discussions on how to measure the impact and value of social economy enterprises continue to evolve.(Photo by Milly)  But can we actually see the positive impact they create? Most social economy organizations say they strive to employ people, protect the environment, and improve communities. But in reality, explaining exactly who they impacted, how, and to what extent, is not so simple. This is why in Korea, “impact measurement” has recently drawn attention. Korea’s social economy has largely developed under public sector leadership. As a result, many organizations have relied o...

The scattered plastic waste emphasizes the urgent need for systematic changes in environmental and climate policies.(Photo by Milly)  On June 3, 2025, Lee Jae-myung was elected as the 21st President of South Korea. Throughout his campaign, he laid out a wide range of pledges to actively respond to the climate crisis. If implemented during his term, these policies could mark a major turning point in South Korea’s climate strategy. Unlike conventional approaches that focus on individual actions like recycling or reducing waste, President Lee's climate policies emphasize structural transformation—linking industry, economy, and governance. Here's an overview of some of his key climate commitments. Transitioning Industries for Carbon Neutrality President Lee has promised to strengthen the institutional foundation to meet South Korea’s 2030 greenhouse gas reduction targets, and to prepare a science-based roadmap for 2035 and beyond. One notable proposal is to evaluate carbon reductio...

 On June 3, 2025, Lee Jae-myung was elected as the 21st President of the Republic of Korea. In this election, President Lee presented his pledges on the "basic society" and the social economy as one of Korea’s future strategic directions. This goes beyond merely supplementing the existing welfare system and emphasizes the potential of the social economy as a new societal paradigm that ensures all citizens can lead a life of dignity and stability. A basic society refers to a society that does not stop at fragmentary welfare policies or simple income redistribution, but one that guarantees a basic and stable life for all citizens in a tangible way. President Lee stressed that, “Realizing a basic society cannot be achieved by the government alone. It requires cooperation among various actors, including social economy organizations, cooperatives, private enterprises, and civil society organizations.” This multi-stakeholder cooperation, he emphasized, is what will make policies mo...