Redefining the Public Good: The Rise of Social Ventures in Korea

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 Over the past half-century, Korea has achieved remarkable economic growth. Yet behind this success lie a number of emerging challenges — inequality, environmental degradation, rural decline, and the growing issues of low birthrate and an aging population.

 

These problems are too complex to be solved by the government or large corporations alone. As awareness of this reality spread, new groups of people began to explore innovative ways to address social problems. They are the social innovators.

 

Social Economy vs. Social Ventures

 

Korea’s social economy can be broadly categorized into five types: cooperatives, village enterprises, social enterprises, self-sufficiency enterprises, and social ventures. These organizations all pursue both profit and purpose — creating social value through business activities.

 

Among them, social ventures stand out. Unlike traditional social economy organizations such as cooperatives or village enterprises, social ventures harness technology, AI, and innovative ideas to solve social challenges. In many ways, they resemble startups that tackle social issues creatively through business models.

 

Recognizing their potential, the Korean government began supporting these enterprises as part of its policy framework. In 2007, the Social Enterprise Promotion Act was enacted, introducing a certification system for social enterprises. During the 2010s, this expanded into impact investing and innovation-driven startup programs, providing institutional support for both social ventures and social economy organizations.

 

During my trip to Jeju, I stopped by Haenyeo’s Kitchen. This photo was taken while I was waiting at the entrance, watching a video about the haenyeo (female divers).(Photo by Milly) 


Leading Examples of Social Ventures in Korea

 

Across the country, numerous social ventures are actively creating value in their own unique ways. Here are some representative examples.

(I also plan to meet some of these founders in person and introduce them on this blog later!)

 

SuperBin

 

SuperBin developed Nephron, an AI-based recycling robot that collects recyclable items like PET bottles and cans. (There’s actually one installed near my home, and I often see neighbors using it!)

The robot identifies and collects recyclables, turning waste into high-quality resources. Users receive cash or reward points in return — encouraging participation and promoting a circular economy.

 

Todo Works

 

Todo Works focuses on improving mobility and quality of life for people with disabilities. They design innovative, affordable mobility aids that help wheelchair users travel more freely and independently. Their work goes beyond product design — it’s about enabling equal access and freedom of movement for everyone.

 

Haenyeo’s Kitchen

 

Located on Jeju Island, Haenyeo’s Kitchen aims to preserve the unique culture of haenyeo (female divers) and support their sustainable livelihoods.

They serve traditional Jeju dishes and seafood harvested by local divers. What makes this place even more special is its “haenyeo dining performance”, where current and retired divers take the stage to share their life stories.

(I’ve actually been there myself during a trip to Jeju — the food was delicious and the performance deeply moving!)

 

Small Steps, Big Changes

 

Though small in scale, Korean social ventures are driving significant transformation.

 

They’ve opened up new career paths for young people who want to make a living by solving social problems. Corporations, too, are shifting from simple donations to impact-driven business models. And as social ventures grow across cities and regions, they’re creating new networks — connecting people, communities, and ideas.

 

Korea’s social ventures aren’t just doing “good deeds.” They are practicing sustainable innovation, steadily changing society from within.

 

While the ecosystem is still young, it’s growing fast. Government policy, civic collaboration, and private entrepreneurship are together shaping a new impact-driven landscape. Korea’s pursuit of balance between public good and innovation offers valuable inspiration for social innovators around the world.

 

The Heart of Innovation is Empathy

 

If you look closely at the missions and visions of Korean social ventures, you’ll find they all share a common goal: to make the world a better place.

Their journey begins with empathy — recognizing social issues, feeling their urgency, and taking bold, creative action to solve them.

 

Even as you read this, Korea’s social ventures continue to lead the way in shaping a more inclusive and innovative society.

 

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