Inside Korea’s Social Impact

  In many countries, social impact is primarily driven by non-profits, social enterprises, and the public sector. Korea is not very different. In fact, when explaining social impact to those unfamiliar with the concept, many people tend to think of it as an area centered on public services or welfare.   However, the reality is slightly different. While it is true that social impact carries a strong public nature due to its mission of addressing social problems and achieving social goals, a closer look reveals that general corporations — especially large companies — also play a significant role in the development of the social impact ecosystem.   That said, the way corporations engage has evolved. In the past, corporate involvement often took the form of donations, one-time social contribution activities, or ESG being included as part of a broader business strategy. Recently, however, more companies are approaching social contribution with a long-term perspective, ...