Inside Korea’s Social Impact

Young professionals working in South Korea’s social impact sector (clockwise from left): Lee Gidae, Na Hyunhong, Kim Wangyoung, and Jeon Sungwook. (Photo courtesy of the individuals; taken in advance.)   In a previous article, we met four young people in South Korea who are working to expand social value and sustainability in their own ways, each from their respective positions. They are members of SE-ACT, which has been introduced before. Whenever major social issues arise in South Korea, they have supported responses through solidarity. Currently, they are planning and running various programs to encourage more people to take interest in the social solidarity economy and social innovation.   👉Related articles  SE-ACT Part 1 The Birth of SE-ACT Amid Korea’s Democratic Crisis (Part 1) SE-ACT Part 2 The Birth of SE-ACT Amid Korea’s Democratic Crisis (Part 2)   In this article, we share a compilation of responses to a common set of questions posed to the four ...

  South Korea is facing multiple, overlapping social challenges, including regional depopulation, low birth rates and population aging, care crises, and the climate emergency. The social solidarity economy has often been discussed as a way to address these issues through business and market-based solutions. However, in Part 2 of this interview with Kim Wang-young, we take a slightly different perspective — one that moves beyond conventional expectations of how social problems should be “solved.”   Kim argues that the role of the social solidarity economy is not limited to encouraging consumers to purchase socially driven products or services. Instead, he emphasizes the importance of enabling citizens themselves to become active participants in addressing social challenges — learning together, engaging in dialogue, and collectively organizing responses. The capacities built through this process, he explains, can become a foundation that sustains society and offers a more fu...

  [Editor’s Note🖉] Korea’s cooperative movement and social and solidarity economy have grown rapidly over a relatively short period of time, supported by legal and institutional frameworks. Since the enactment of the Framework Act on Cooperatives in 2012, cooperatives have expanded steadily across various sectors, evolving beyond a single organizational form.   Today, however, the central question is shifting — from “How many cooperatives have been created?” to “How well are they actually functioning?” The focus is moving away from quantitative growth toward qualitative maturity.   This interview captures the perspective of Kim Wang-young, CEO of CoopBiz Cooperative, who has long engaged with cooperatives and the social and solidarity economy through the lens of education. As both a young practitioner and a long-time participant in the field, he offers candid reflections from on-the-ground experience. Rather than focusing solely on institutional outcomes or busin...

  “Every time one of our products is sold, a job is created for someone from a vulnerable group.”   When you spend time reporting on the social solidarity economy, you often meet founders whose eyes light up as they speak. They passionately explain how their products create positive change in the world. Their faces are filled with anticipation, excitement, and a deep sense of purpose.   But those conversations often end with the same bitter and frustrated question.   “If we’re doing something so meaningful for society, why don’t people open their wallets?”   Many impact-driven companies believe that their social mission is their strongest competitive advantage. But at some point, an uncomfortable truth has to be faced: sometimes, that very “good story” becomes a distraction from the core of the business — and can even turn into a poison that blocks revenue.   In this post, I want to talk about the paradox of “doing good.” It may feel unc...

  [Editor’s Note🖍] Korea’s social solidarity economy (often referred to as the social economy) is frequently described as “meaningful work.” Yet behind that phrase lie many practical challenges that are not easily visible. Organizations and individuals who place social value at the center of their work often find themselves navigating constant choices between the market and institutional systems.   This article is the second interview with Seonguk Jeon, CEO of the social venture Soact Co., Ltd. He is also a member of SE-ACT, which was introduced in the previous interview.   In this conversation, Jeon shares challenges and concerns drawn from his own experiences as well as from observing the field up close. He speaks calmly about the gap between social value and consumers, concerns around stability and sustainability, and how younger generations view the social economy in Korea.   Rather than portraying the social solidarity economy as an idealized model,...