Inside Korea’s Social Impact

  In a previous post, we looked at how Korea has been announcing a “Master Plan for Cooperatives” every three years since the Framework Act on Cooperatives was enacted. We also briefly reviewed the key directions of the 1st through 4th Master Plans.   <Related post> Korea Announces a “Basic Plan for Cooperatives” Every Three Years   Today, I will take a closer look at the contents of the 5th Master Plan for Cooperatives announced by the Korean government on April 6. This plan will be implemented over three years, from 2026 to 2028. The government stated that it expects cooperatives to play a “central role in solving regional problems and strengthening the social safety net.”   (Left) Cooperative establishment scale graph, (Right) Share of workers from vulnerable groups (Source: Ministry of Strategy and Finance) Current Status and Challenges of Cooperatives in Korea   Since the Framework Act on Cooperatives was enacted in 2012, more than 2,0...

  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 this blog, I have previously mentioned the development and role of cooperatives in Korea. In today’s post, I would like to write about how cooperatives can play a role in solving social problems and introduce several examples.   📌Cooperatives Are Not Just Business Organizations   Most people think of cooperatives simply as business organizations. This is also the case in Korea. Rather than pursuing only individual profit, some people establish cooperatives as a way of doing business that pursues shared benefits and collective values.   On the other hand, there are also cases where cooperatives are established in order to run businesses that aim to solve social problems. For example, socially disadvantaged groups such as people with disabilities or older adults may form cooperatives and run businesses together, allowing them to continue sustainable social activities.   In addition, cooperatives are sometimes highlighted as a direct way to ad...