“So… Do You Actually Make Money?” Five Common Misconceptions About K-Impact

[Editor’s Note]

As a journalist who has covered social impact in South Korea for years, I’ve been asked the same questions again and again whenever I talk to people outside the impact sector. Based on my reporting experience, I’ve selected five of the questions I hear most often.

 

When I explain social solidarity economy or social innovation—what is often broadly referred to as the “social impact” sector—to people who are unfamiliar with it, the conversation almost always ends in similar questions. These come from close friends, casual acquaintances, and even people I meet through work.

 

These questions are not simply expressions of curiosity. They reveal how unfamiliar social impact still is to many people, and they point to the first obstacles people encounter when trying to understand this field. That’s why I want to organize these frequently asked questions from the perspective of those who are hearing about social impact for the first time.

 

👀Q1. “So… how do you actually make money?”❓

 

This is usually the first question—and the most honest one. Beneath it is less skepticism than practical concern. After hearing about social values, solidarity, and public good, people naturally ask, “But can you really make a living doing this?”

 

For many, “doing good” and “making money” still feel like separate things. In that sense, this question is less about social impact itself and more about how narrowly we’ve come to define the economy. From what I’ve seen up close, yes—impact organizations do make money. But because both “value” and “profit” are built into their business philosophy, growth can be slower. Still, impact organizations must generate revenue to survive and continue creating social value, which is why many focus just as seriously on sustainability as they do on mission.

 

😎Q2. “Wouldn’t everything collapse without government support?”❔

 

This question often comes from people whose first exposure to the social impact sector was through policy or public programs. Terms like social enterprise certification, government grants, and public contracts tend to dominate their understanding—especially in Korea, where the sector has grown with strong government involvement.

 

When I hear this question, I sometimes wonder if social impact is perceived as something that only exists within institutions. The reality on the ground is far more diverse. Many organizations have operated successfully for years without relying heavily on government support. While public funding can help, long-lasting organizations tend to be those with solid business models that use government support as a supplement, not a lifeline.

 

😃Q3. “If you’re ‘too nice,’ doesn’t that mean you won’t last?”⭐

 

This question is often asked half-jokingly—but it’s surprisingly sharp. It assumes that being “good” and being sustainable are incompatible. In reality, many of the challenges faced by impact organizations stem not from their values, but from structural conditions and systemic constraints.

 

Each time I hear this question, I’m reminded of how ambiguous the word “nice” can be. The idea that “good intentions don’t survive” is outdated. Today, even large corporations in Korea are actively engaging in social responsibility and impact initiatives. So the question isn’t whether being ethical is a weakness—it’s whether we’re willing to rethink what sustainability actually means.

 

😅Q4. “How is this different from a regular company?”👂

 

This is one of the hardest questions to answer. No matter how much I explain organizational forms, legal structures, or revenue models, confusion often remains. Eventually, the answer comes down to priorities.

 

This question reflects an attempt to categorize social impact using familiar standards. The key difference lies in how profit and values are ranked. While traditional companies prioritize profit first, social impact organizations place equal weight on profit and social value. That balance is what sets them apart.

 

😀Q5. “Is this really a field you can stay in long-term?”😮

 

This question comes up most often among young people. It carries both curiosity and anxiety. At the same time, it suggests genuine interest—those who ask are already considering working in the impact sector themselves.

 

Whether to stay is ultimately a personal decision. But through my reporting, I’ve met many young people working in social impact who find deep meaning and fulfillment in what they do. From the outside, at least, many of them seem to experience a strong sense of purpose that keeps them going.

 

 

Rather than dismissing these five questions as simple misunderstandings, I wanted to document them as a snapshot of where the social impact sector stands today. Social solidarity economy and social innovation may still feel unfamiliar to the public, but the fact that people keep asking questions shows that this field is very much a work in progress.