A speaker delivering a presentation at the Insight Lecture .(Photo by Milly)  The grand festival of social economy enterprises in Incheon, the Incheon Social Economy Expo , was held from September 26 to 28 at the Incheon Imagination Platform .   Related post: Highlights from the 2nd Incheon Social Economy Fair On the first day of the event, right after the opening ceremony on the 26th, a special insight lecture was held. Seongjun Lim , Director of mysc (Merry Year Social Company), a consulting and impact investment firm specializing in social innovation , presented practical strategies for how social enterprises can survive and grow. Many social enterprises and intermediary support organizations listened attentively with great interest.   In this article, I’d like to summarize the key points from Director Lim’s presentation on how social enterprises can build a sustainable business model.   The Meaning of Social Value and Impact   Social enterpris...

Banner of the 2nd Social Value Festa.(Photo by Milly)  From August 25 to 26, at COEX in Gangnam, Seoul, a special gathering took place where Korea’s changemakers came together for the 2nd Korea Social Value Festa.   This annual event, now in its second year, brings together enterprises, organizations, and changemakers dedicated to creating social value in Korea. It serves as a meaningful platform to share experiences, insights, and achievements. This year’s theme was “Designing the Sustainable Future.”   The entrance of the exhibition hall was bustling with people.(Photo by Milly)  The moment I stepped into the venue, I could feel the passion and energy overflowing, almost heating up the summer air even more. Having attended last year as well, I was struck once again by the sight of so many people continuously devoted to solving social issues and taking action on the ground.   Innovative technologies, including AI for expanding social value, drew parti...

Social enterprises in South Korea have played an important role in solving social problems and creating jobs. Unlike regular businesses that primarily pursue profits, social enterprises pursue both “profit” and “social value,” acting as a bridge between the private and public sectors.   South Korea officially recognizes social enterprises through a “certification” system that acknowledges their dual role in generating profit and delivering social impact.   Current Social Enterprise Certification System   Under the Social Enterprise Promotion Act (enacted in 2007), South Korea operates a social enterprise certification system. This system certifies companies that meet specific criteria as social enterprises, administered by the government.   Certification helps build trust with consumers and the general public and provides certified enterprises with support such as management assistance, market access, and tax benefits. This support is especially cruci...

Social economy enterprises in Korea continue to thrive by fostering community participation, offering skill-building opportunities, and promoting ethical consumption.(Photo by Milly)   The biggest difference between social economy enterprises and regular businesses is that they aim to generate both profit and social value. Simply put, they operate businesses based on a mission or value they wish to achieve or expand. But growing impact while also making money? That’s no easy task.   “I don’t really know if this is a product from a social enterprise or a cooperative. I just buy it if I think it’s good and reasonably priced.”   A close friend of mine said this. Even after knowing me for years and understanding the kind of work I do, being a “social economy product” wasn’t a factor when making actual purchasing decisions. And honestly, not just friends — even my own family rarely go out of their way to buy from social economy enterprises. So why is it so hard to sell...